Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) Sees Large Decline in Short Interest

Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 2,400 shares, a drop of 33.3% from the August 15th total of 3,600 shares. Based on an average trading volume of 11,900 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

Insiders Place Their Bets

In related news, Director Jeffrey Richart Geygan bought 7,217 shares of the stock in a transaction dated Monday, August 21st. The stock was bought at an average cost of $5.26 per share, with a total value of $37,961.42. Following the completion of the acquisition, the director now owns 44,000 shares of the company’s stock, valued at $231,440. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Jeffrey Richart Geygan purchased 7,217 shares of Rocky Mountain Chocolate Factory stock in a transaction dated Monday, August 21st. The stock was bought at an average price of $5.26 per share, with a total value of $37,961.42. Following the completion of the acquisition, the director now owns 44,000 shares in the company, valued at approximately $231,440. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Global Value Investment Corp. purchased 5,115 shares of the stock in a transaction dated Thursday, August 10th. The shares were purchased at an average price of $5.70 per share, with a total value of $29,155.50. Following the transaction, the insider now directly owns 870,556 shares of the company’s stock, valued at approximately $4,962,169.20. The disclosure for this purchase can be found here. Insiders have acquired 88,473 shares of company stock valued at $503,942 over the last quarter. Insiders own 14.87% of the company’s stock.

Hedge Funds Weigh In On Rocky Mountain Chocolate Factory

Several hedge funds have recently modified their holdings of RMCF. Citadel Advisors LLC bought a new stake in Rocky Mountain Chocolate Factory in the third quarter worth about $62,000. Renaissance Technologies LLC raised its holdings in shares of Rocky Mountain Chocolate Factory by 2.1% in the 1st quarter. Renaissance Technologies LLC now owns 363,263 shares of the company’s stock worth $1,925,000 after purchasing an additional 7,300 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Rocky Mountain Chocolate Factory by 20.2% during the second quarter. BlackRock Inc. now owns 13,005 shares of the company’s stock valued at $70,000 after purchasing an additional 2,182 shares during the last quarter. 44.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Rocky Mountain Chocolate Factory in a report on Wednesday. They issued a “hold” rating for the company.

Rocky Mountain Chocolate Factory Trading Down 2.8 %

RMCF stock traded down $0.14 during trading on Friday, hitting $4.89. The company had a trading volume of 8,725 shares, compared to its average volume of 6,450. The business has a 50 day moving average of $5.41 and a 200 day moving average of $5.33. The firm has a market capitalization of $30.77 million, a price-to-earnings ratio of -4.79 and a beta of 1.00. Rocky Mountain Chocolate Factory has a fifty-two week low of $4.77 and a fifty-two week high of $6.98.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) last issued its quarterly earnings results on Thursday, July 13th. The company reported ($0.24) earnings per share for the quarter. Rocky Mountain Chocolate Factory had a negative return on equity of 15.71% and a negative net margin of 20.23%. The company had revenue of $6.44 million during the quarter.

Rocky Mountain Chocolate Factory Company Profile

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