StockNews.com Begins Coverage on Rocky Mountain Chocolate Factory (NASDAQ:RMCF)

Investment analysts at StockNews.com initiated coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCFGet Free Report) in a research note issued to investors on Tuesday. The brokerage set a “hold” rating on the stock.

Rocky Mountain Chocolate Factory Price Performance

Shares of NASDAQ RMCF opened at $2.74 on Tuesday. The firm’s 50-day moving average is $3.36 and its two-hundred day moving average is $3.91. The company has a market capitalization of $17.30 million, a PE ratio of -4.03 and a beta of 1.01. Rocky Mountain Chocolate Factory has a 12-month low of $2.70 and a 12-month high of $5.99.

Hedge Funds Weigh In On Rocky Mountain Chocolate Factory

Several hedge funds have recently bought and sold shares of RMCF. Salvus Wealth Management LLC lifted its position in shares of Rocky Mountain Chocolate Factory by 33.5% in the first quarter. Salvus Wealth Management LLC now owns 15,395 shares of the company’s stock valued at $56,000 after acquiring an additional 3,865 shares in the last quarter. Leverty Financial Group LLC lifted its holdings in Rocky Mountain Chocolate Factory by 70.5% in the 1st quarter. Leverty Financial Group LLC now owns 20,081 shares of the company’s stock valued at $73,000 after purchasing an additional 8,300 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Rocky Mountain Chocolate Factory by 360.0% during the 4th quarter. International Assets Investment Management LLC now owns 14,260 shares of the company’s stock worth $66,000 after purchasing an additional 11,160 shares during the last quarter. Hedge funds and other institutional investors own 50.27% of the company’s stock.

About Rocky Mountain Chocolate Factory

(Get Free Report)

Rocky Mountain Chocolate Factory, Inc, together with its subsidiaries, operates as a confectionery franchisor, manufacturer, and retail operator. It operates through Franchising, Manufacturing, Retail Stores, and Other segments. The company produces approximately 400 chocolate candies and other confectionery products, including clusters, caramels, creams, toffees, mints, and truffles; and offers 15 varieties of caramel apples and other products that are prepared in individual stores, as well as provides ice cream, coffee, and other sundries.

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