Rocky Mountain Chocolate Factory Coverage Initiated at StockNews.com

On November 28, 2024, analysts at StockNews.com announced they have begun coverage of Rocky Mountain Chocolate Factory (NASDAQ:RMCF). In their research note, they assigned a "hold" rating to the company's stock, indicating a cautious approach.

Rocky Mountain Chocolate Factory Price Performance

On the trading day that the coverage began, shares of Rocky Mountain Chocolate Factory opened at $2.67. The company's stock has shown some volatility, with a 52-week low of $1.50 and a high of $5.15. Notably, the stock's 50-day moving average stands at $2.38, while the 200-day moving average is at $2.27.

Earnings Results

Rocky Mountain Chocolate Factory recently reported its earnings results on October 15, 2024. For the quarter, the company posted a loss of $0.11 per share. It also noted a significant negative return on equity of 44.56% and a concerning negative net margin of 17.05%. However, the firm did generate revenue of $6.38 million for the quarter, which points to some level of operational activity.

Insider Activity

Recent insider trading has drawn attention, as major shareholder Global Value Investment Corp. bought 23,700 shares on October 18, 2024, at an average price of $2.14, bringing their total ownership to approximately 1,251,483 shares valued around $2.68 million. Additionally, CEO Jeffrey Richart Geygan acquired 11,935 shares on October 24, 2024, at an average cost of $2.60, increasing his holdings to 168,719 shares valued at roughly $438,669. Insider trades over the past three months totaled 424,094 shares worth $1.14 million, indicating that company insiders own about 20.80% of the total stock.

Institutional Ownership Update

In a recent update, Leverty Financial Group LLC disclosed an increase in its holding of Rocky Mountain Chocolate Factory shares by 32.3% in the third quarter. Following this acquisition, the firm now holds about 40,371 shares, valued at approximately $81,000. Institutional investors and hedge funds collectively own around 50.27% of the company's stock.

About Rocky Mountain Chocolate Factory

Rocky Mountain Chocolate Factory, Inc., along with its subsidiaries, functions as a franchisor, manufacturer, and retailer within the confectionery sector. The company produces around 400 different chocolate and confectionery items, including clusters, caramels, creams, toffees, mints, and truffles. Additionally, they offer several varieties of caramel apples and sell other products such as ice cream and coffee through their retail stores.

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