Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) Short Interest Up 43.5% in May

Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) was the target of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 53,100 shares, a growth of 43.5% from the May 15th total of 37,000 shares. Based on an average trading volume of 20,200 shares, the days-to-cover ratio is presently 2.6 days. Currently, 1.1% of the shares of the company are short sold.

Institutional Trading of Rocky Mountain Chocolate Factory

Hedge funds and other institutional investors have recently modified their holdings of the company. Wealthedge Investment Advisors LLC lifted its stake in shares of Rocky Mountain Chocolate Factory by 208.5% during the 1st quarter. Wealthedge Investment Advisors LLC now owns 121,582 shares of the company’s stock valued at $148,000 after buying an additional 82,173 shares in the last quarter. 4WEALTH Advisors Inc. bought a new stake in Rocky Mountain Chocolate Factory during the fourth quarter valued at about $225,000. Allworth Financial LP bought a new stake in Rocky Mountain Chocolate Factory during the first quarter valued at about $32,000. Finally, CacheTech Inc. purchased a new position in shares of Rocky Mountain Chocolate Factory in the fourth quarter valued at about $43,000. 50.27% of the stock is owned by hedge funds and other institutional investors.

Rocky Mountain Chocolate Factory Trading Down 1.7%

Shares of RMCF opened at $1.17 on Tuesday. Rocky Mountain Chocolate Factory has a 52 week low of $1.09 and a 52 week high of $3.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.28 and a current ratio of 2.60. The business has a 50-day simple moving average of $1.24 and a two-hundred day simple moving average of $1.72.

Analysts Set New Price Targets

Separately, Wall Street Zen started coverage on Rocky Mountain Chocolate Factory in a research note on Wednesday, May 21st. They issued a “hold” rating for the company.

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.