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

Investment analysts at began coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCFGet Rating) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the stock.

RMCF stock opened at $7.14 on Wednesday. The stock has a market capitalization of $44.32 million, a P/E ratio of -119.00 and a beta of 1.13. The firm has a 50-day simple moving average of $6.64 and a 200-day simple moving average of $7.44. Rocky Mountain Chocolate Factory has a 52 week low of $5.48 and a 52 week high of $10.36.

In other Rocky Mountain Chocolate Factory news, insider Andrew Berger purchased 5,000 shares of the stock in a transaction that occurred on Thursday, June 16th. The shares were purchased at an average cost of $6.84 per share, for a total transaction of $34,200.00. Following the completion of the transaction, the insider now owns 17,658 shares of the company’s stock, valued at approximately $120,780.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 18.60% of the company’s stock.

An institutional investor recently raised its position in Rocky Mountain Chocolate Factory stock. Redmond Asset Management LLC raised its position in Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCFGet Rating) by 132.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,118 shares of the company’s stock after purchasing an additional 83,247 shares during the quarter. Redmond Asset Management LLC owned about 2.36% of Rocky Mountain Chocolate Factory worth $1,145,000 as of its most recent SEC filing. 36.76% of the stock is owned by hedge funds and other institutional investors.

Rocky Mountain Chocolate Factory Company Profile (Get Rating)

Rocky Mountain Chocolate Factory, Inc, together with its subsidiaries, operates as a confectionery franchisor, manufacturer, and retail operator. It operates through five segments: Franchising, Manufacturing, Retail Stores, U-Swirl Operations, and Other. 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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