Rocky Mountain Chocolate Factory (NASDAQ:RMCF) Stock Passes Above 200-Day Moving Average – What’s Next?

Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.23 and traded as high as $2.44. Rocky Mountain Chocolate Factory shares last traded at $2.40, with a volume of 22,248 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Rocky Mountain Chocolate Factory in a report on Saturday. They set a “hold” rating on the stock.

Rocky Mountain Chocolate Factory Price Performance

The stock’s 50-day simple moving average is $2.67 and its 200-day simple moving average is $2.22.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) last released its earnings results on Tuesday, October 15th. The company reported ($0.11) earnings per share (EPS) for the quarter. The business had revenue of $6.38 million during the quarter. Rocky Mountain Chocolate Factory had a negative net margin of 17.05% and a negative return on equity of 44.56%.

Insider Transactions at Rocky Mountain Chocolate Factory

In other news, major shareholder Global Value Investment Corp. acquired 42,063 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were acquired at an average price of $2.89 per share, for a total transaction of $121,562.07. Following the completion of the purchase, the insider now owns 1,880,737 shares in the company, valued at approximately $5,435,329.93. This trade represents a 2.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Richart Geygan acquired 11,935 shares of Rocky Mountain Chocolate Factory stock in a transaction on Thursday, October 24th. The shares were purchased at an average cost of $2.60 per share, with a total value of $31,031.00. Following the completion of the acquisition, the chief executive officer now owns 168,719 shares of the company’s stock, valued at $438,669.40. This trade represents a 7.61 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 424,094 shares of company stock worth $1,137,016 in the last ninety days. Company insiders own 20.80% of the company’s stock.

Institutional Investors Weigh In On Rocky Mountain Chocolate Factory

An institutional investor recently bought a new position in Rocky Mountain Chocolate Factory stock. Sanctuary Advisors LLC purchased a new stake in Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 19,750 shares of the company’s stock, valued at approximately $43,000. Sanctuary Advisors LLC owned 0.31% of Rocky Mountain Chocolate Factory as of its most recent SEC filing. 50.27% of the stock is owned by institutional investors.

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.