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 large decline in short interest in December. As of December 31st, there was short interest totalling 26,700 shares, a decline of 30.8% from the December 15th total of 38,600 shares. Based on an average daily volume of 44,600 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.6% of the shares of the company are short sold.

Insider Activity

In other news, major shareholder Global Value Investment Corp. bought 42,063 shares of the stock in a transaction dated Tuesday, October 29th. The shares were acquired at an average cost of $2.89 per share, with a total value of $121,562.07. Following the purchase, the insider now directly owns 1,880,737 shares in the company, valued at $5,435,329.93. The trade was a 2.29 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey Richart Geygan purchased 11,935 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average price of $2.60 per share, with a total value of $31,031.00. Following the purchase, the chief executive officer now owns 168,719 shares in the company, valued at $438,669.40. This represents a 7.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 400,394 shares of company stock valued at $1,086,298 in the last three months. 20.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rocky Mountain Chocolate Factory

An institutional investor recently raised its position in Rocky Mountain Chocolate Factory stock. Leverty Financial Group LLC lifted its position in shares of Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) by 32.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,371 shares of the company’s stock after buying an additional 9,850 shares during the period. Leverty Financial Group LLC owned approximately 0.64% of Rocky Mountain Chocolate Factory worth $81,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 50.27% of the stock is owned by institutional investors.

Rocky Mountain Chocolate Factory Stock Performance

Shares of NASDAQ:RMCF traded down $0.13 during midday trading on Friday, hitting $1.97. The company’s stock had a trading volume of 83,346 shares, compared to its average volume of 35,304. Rocky Mountain Chocolate Factory has a 12-month low of $1.50 and a 12-month high of $4.74. The business’s 50 day simple moving average is $2.62 and its 200 day simple moving average is $2.24.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) last issued its earnings results on Tuesday, January 14th. The company reported ($0.11) earnings per share (EPS) for the quarter. Rocky Mountain Chocolate Factory had a negative return on equity of 44.56% and a negative net margin of 17.05%.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Rocky Mountain Chocolate Factory in a report on Monday. They issued a “hold” rating for the company.

About Rocky Mountain Chocolate Factory

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.