Short Interest in Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) Declines By 38.7%

Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) saw a large decline in short interest in December. As of December 15th, there was short interest totaling 28,341 shares, a decline of 38.7% from the November 30th total of 46,213 shares. Based on an average daily trading volume, of 17,977 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.6% of the shares of the stock are short sold. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 17,977 shares, the days-to-cover ratio is currently 1.6 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rocky Mountain Chocolate Factory in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Rocky Mountain Chocolate Factory Trading Up 12.1%

RMCF opened at $1.94 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.91 and a debt-to-equity ratio of 1.27. The firm has a 50-day moving average price of $1.66 and a two-hundred day moving average price of $1.61. Rocky Mountain Chocolate Factory has a 1-year low of $1.12 and a 1-year high of $3.18. The stock has a market capitalization of $15.13 million, a PE ratio of -3.18 and a beta of 0.71.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) last released its earnings results on Tuesday, October 14th. The company reported ($0.09) earnings per share (EPS) for the quarter. Rocky Mountain Chocolate Factory had a negative net margin of 15.77% and a negative return on equity of 63.75%. The business had revenue of $6.82 million for the quarter.

Insider Activity at Rocky Mountain Chocolate Factory

In related news, major shareholder Global Value Investment Corp. purchased 61,670 shares of the company’s stock in a transaction that occurred on Friday, October 17th. The shares were purchased at an average price of $1.59 per share, with a total value of $98,055.30. Following the purchase, the insider owned 1,923,396 shares of the company’s stock, valued at $3,058,199.64. This trade represents a 3.31% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jeffrey Richart Geygan bought 61,670 shares of the business’s stock in a transaction on Friday, October 17th. The shares were purchased at an average cost of $1.59 per share, for a total transaction of $98,055.30. Following the completion of the purchase, the chief executive officer owned 1,744,568 shares in the company, valued at approximately $2,773,863.12. This trade represents a 3.66% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 228,830 shares of company stock worth $373,456. 42.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rocky Mountain Chocolate Factory

A hedge fund recently raised its stake in Rocky Mountain Chocolate Factory stock. Salvus Wealth Management LLC grew its holdings in Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) by 53.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,567 shares of the company’s stock after buying an additional 8,172 shares during the period. Salvus Wealth Management LLC owned 0.30% of Rocky Mountain Chocolate Factory worth $37,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 50.27% of the company’s stock.

About Rocky Mountain Chocolate Factory

Rocky Mountain Chocolate Factory, Inc is a specialty chocolate confectionery franchisor and manufacturer headquartered in Durango, Colorado. Established in 1981, the company develops, produces and markets a range of premium chocolate products, including truffles, caramels, toffees, fudge, nuts, dipped fruits and caramel apples. It operates company-owned retail stores as well as a franchised network, supplying handcrafted confections and related gift items through more than 300 retail locations across North America and select international markets.

From its origins as a single store in downtown Durango, Rocky Mountain Chocolate Factory introduced its first franchised outlets in the mid-1980s and completed a public offering in 1985.