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

Research analysts at StockNews.com started coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF) in a research note issued to investors on Sunday. The brokerage set a “hold” rating on the stock.

Rocky Mountain Chocolate Factory Trading Up 3.6 %

Shares of NASDAQ RMCF opened at $2.04 on Friday. The stock has a market cap of $12.94 million, a price-to-earnings ratio of -3.00 and a beta of 1.03. Rocky Mountain Chocolate Factory has a 1-year low of $1.75 and a 1-year high of $5.99. The stock’s 50-day moving average is $2.50 and its 200 day moving average is $3.44.

Hedge Funds Weigh In On Rocky Mountain Chocolate Factory

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Leverty Financial Group LLC grew its position in Rocky Mountain Chocolate Factory by 52.0% during the 2nd quarter. Leverty Financial Group LLC now owns 30,521 shares of the company’s stock worth $67,000 after acquiring an additional 10,440 shares during the last quarter. Salvus Wealth Management LLC grew its position in Rocky Mountain Chocolate Factory by 33.5% during the 1st quarter. Salvus Wealth Management LLC now owns 15,395 shares of the company’s stock worth $56,000 after acquiring an additional 3,865 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in 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 acquiring an additional 11,160 shares during the last quarter. 50.27% of the stock is currently owned by institutional investors.

Rocky Mountain Chocolate Factory Company Profile

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.