Short Interest in Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) Expands By 21.6%

Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 9,000 shares, a growth of 21.6% from the June 30th total of 7,400 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 22,300 shares, the days-to-cover ratio is presently 0.4 days.

Rocky Mountain Chocolate Factory Stock Performance

RMCF traded up $0.07 during trading on Tuesday, hitting $2.00. The stock had a trading volume of 14,881 shares, compared to its average volume of 18,021. The firm has a market capitalization of $12.68 million, a P/E ratio of -2.94 and a beta of 1.03. The company’s 50-day moving average price is $2.36 and its 200 day moving average price is $3.32. Rocky Mountain Chocolate Factory has a twelve month low of $1.75 and a twelve month high of $5.98.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Rocky Mountain Chocolate Factory in a research note on Monday. They issued a “hold” rating on the stock.

Hedge Funds Weigh In On Rocky Mountain Chocolate Factory

Institutional investors and hedge funds have recently made changes to their positions in the stock. Salvus Wealth Management LLC grew its stake in shares of Rocky Mountain Chocolate Factory by 33.5% during the 1st quarter. Salvus Wealth Management LLC now owns 15,395 shares of the company’s stock worth $56,000 after purchasing an additional 3,865 shares during the period. International Assets Investment Management LLC grew its stake in shares of Rocky Mountain Chocolate Factory by 360.0% during the 4th quarter. International Assets Investment Management LLC now owns 14,260 shares of the company’s stock worth $66,000 after purchasing an additional 11,160 shares during the period. Finally, Leverty Financial Group LLC grew its stake in shares of Rocky Mountain Chocolate Factory by 52.0% during the 2nd quarter. Leverty Financial Group LLC now owns 30,521 shares of the company’s stock worth $67,000 after purchasing an additional 10,440 shares during the period. 50.27% of the stock is owned by institutional investors and hedge funds.

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.