Rocky Mountain Chocolate Factory Coverage Initiated at StockNews.com

On November 28, 2024, StockNews.com initiated coverage on Rocky Mountain Chocolate Factory, trading under the ticker symbol NASDAQ:RMCF. In a recent research note presented to investors, the firm assigned a "hold" rating to the stock.

Rocky Mountain Chocolate Factory Price Performance

The stock opened at $2.67 on the day of coverage initiation. Currently, the company possesses a 50-day simple moving average of $2.38 and a 200-day simple moving average of $2.27. Over the past year, Rocky Mountain Chocolate Factory's stock has reached a low of $1.50 and a high of $5.15.

Previously, on October 15, the company disclosed earnings results, showing a loss of $0.11 per share for the last quarter. The firm is currently facing challenges, indicated by a negative return on equity of 44.56% and a negative net margin of 17.05%. In that quarter, it reported revenues of $6.38 million.

Insider Activity at Rocky Mountain Chocolate Factory

In related news, Global Value Investment Corp., a major shareholder, purchased 23,700 shares on October 18 at an average price of $2.14 each, totaling $50,718. Post-transaction, this insider holds 1,251,483 shares in the company, valued at around $2.68 million, marking a 1.93% uptick in their ownership.

Furthermore, CEO Jeffrey Geygan bought 11,935 shares on October 24 for an average of $2.60 per share, amounting to $31,031. This purchase increased his ownership in the company to 168,719 shares, worth approximately $438,669, reflecting a 7.61% rise in his holdings. Over the past three months, insiders collectively acquired 424,094 shares, worth around $1.14 million, and insiders currently own about 20.80% of the stock.

Institutional Inflows and Outflows

Meanwhile, an institutional investor, Leverty Financial Group LLC, has increased its holding in Rocky Mountain Chocolate Factory by 32.3% in the third quarter, acquiring an additional 9,850 shares. They now own 40,371 shares, accounting for about 0.64% of the company, which is valued at $81,000 based on recent prices. Institutional investors and hedge funds currently hold 50.27% of the company’s stock.

About Rocky Mountain Chocolate Factory

Rocky Mountain Chocolate Factory, Inc. functions as a confectionery franchisor, manufacturer, and retailer. The company operates in various segments, including Franchising, Manufacturing, Retail Stores, and Others. It produces around 400 types of chocolates and confectionery items, encompassing caramels, creams, toffees, mints, and truffles. Additionally, the company offers 15 flavors of caramel apples and other products, and it serves ice cream, coffee, and sundries across its stores.

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