StockNews.com began coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF – Get Rating) in a research report issued to clients and investors on Sunday. The firm set a “hold” rating on the stock.
NASDAQ:RMCF opened at $6.53 on Friday. The firm has a market cap of $40.36 million, a price-to-earnings ratio of 28.39 and a beta of 1.13. Rocky Mountain Chocolate Factory has a 52 week low of $5.48 and a 52 week high of $10.36. The firm has a 50-day moving average price of $6.77 and a two-hundred day moving average price of $7.71.
Several institutional investors have recently added to or reduced their stakes in RMCF. Morgan Stanley grew its position in shares of Rocky Mountain Chocolate Factory by 35.7% during the 1st quarter. Morgan Stanley now owns 11,400 shares of the company’s stock valued at $60,000 after acquiring an additional 3,000 shares during the period. Geode Capital Management LLC purchased a new position in shares of Rocky Mountain Chocolate Factory during the 3rd quarter valued at $100,000. Redmond Asset Management LLC grew its stake in shares of Rocky Mountain Chocolate Factory by 132.4% during the 4th quarter. Redmond Asset Management LLC now owns 146,118 shares of the company’s stock worth $1,145,000 after acquiring an additional 83,247 shares during the period. Finally, Ridgewood Investments LLC purchased a new stake in Rocky Mountain Chocolate Factory in the 1st quarter worth about $215,000. 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 450 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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