Rocky Mountain Chocolate Factory (NASDAQ:RMCF) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF) in a research note published on Saturday morning. The brokerage issued a hold rating on the stock.

Rocky Mountain Chocolate Factory Trading Up 1.7 %

RMCF opened at $2.44 on Friday. The firm has a fifty day moving average price of $2.67 and a 200 day moving average price of $2.22. Rocky Mountain Chocolate Factory has a 1 year low of $1.50 and a 1 year high of $5.15.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) last posted its earnings results on Tuesday, October 15th. The company reported ($0.11) earnings per share (EPS) for the quarter. Rocky Mountain Chocolate Factory had a negative return on equity of 44.56% and a negative net margin of 17.05%. The firm had revenue of $6.38 million for the quarter.

Insider Activity

In related news, major shareholder Global Value Investment Corp. bought 330,743 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was acquired at an average price of $2.70 per share, with a total value of $893,006.10. Following the completion of the purchase, the insider now directly owns 1,643,412 shares of the company’s stock, valued at approximately $4,437,212.40. This trade represents a 25.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey Richart Geygan purchased 11,935 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was bought at an average cost of $2.60 per share, for a total transaction of $31,031.00. Following the completion of the purchase, the chief executive officer now directly owns 168,719 shares in the company, valued at $438,669.40. This represents a 7.61 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 424,094 shares of company stock worth $1,137,016 over the last three months. 20.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocky Mountain Chocolate Factory

An institutional investor recently bought a new position in Rocky Mountain Chocolate Factory stock. Sanctuary Advisors LLC bought a new position in shares of Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 19,750 shares of the company’s stock, valued at approximately $43,000. Sanctuary Advisors LLC owned about 0.31% of Rocky Mountain Chocolate Factory as of its most recent SEC filing. Hedge funds and other institutional investors own 50.27% of the company’s stock.

About Rocky Mountain Chocolate Factory

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.