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

Shares of Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.98 and traded as high as $2.24. Rocky Mountain Chocolate Factory shares last traded at $2.16, with a volume of 14,966 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Rocky Mountain Chocolate Factory in a research report on Monday. One analyst has rated the stock with a Sell rating, According to MarketBeat, Rocky Mountain Chocolate Factory has an average rating of “Sell”.

Rocky Mountain Chocolate Factory Stock Performance

The company has a market capitalization of $20.15 million, a price-to-earnings ratio of -4.15 and a beta of 0.72. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.93 and a current ratio of 1.66. The firm has a 50-day simple moving average of $2.44 and a two-hundred day simple moving average of $1.98.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) last issued its quarterly earnings results on Tuesday, January 13th. The company reported ($0.02) earnings per share (EPS) for the quarter. Rocky Mountain Chocolate Factory had a negative return on equity of 62.48% and a negative net margin of 13.62%.The business had revenue of $7.54 million for the quarter.

Hedge Funds Weigh In On Rocky Mountain Chocolate Factory

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMCF. DRW Securities LLC acquired a new position in shares of Rocky Mountain Chocolate Factory in the fourth quarter worth $235,000. American Capital Advisory LLC acquired a new stake in shares of Rocky Mountain Chocolate Factory in the fourth quarter valued at $134,000. Finally, Salvus Wealth Management LLC boosted its holdings in Rocky Mountain Chocolate Factory by 53.1% in the third quarter. Salvus Wealth Management LLC now owns 23,567 shares of the company’s stock valued at $37,000 after purchasing an additional 8,172 shares during the period. 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.