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 in 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. Currently, 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 20,200 shares, the days-to-cover ratio is presently 2.6 days.

Analysts Set New Price Targets

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

Institutional Trading of Rocky Mountain Chocolate Factory

Several institutional investors and hedge funds have recently made changes to their positions in the company. CacheTech Inc. acquired a new position in Rocky Mountain Chocolate Factory during the fourth quarter worth approximately $43,000. Allworth Financial LP acquired a new stake in Rocky Mountain Chocolate Factory during the 1st quarter worth $32,000. Wealthedge Investment Advisors LLC acquired a new position in Rocky Mountain Chocolate Factory in the fourth quarter valued at $95,000. Finally, 4WEALTH Advisors Inc. purchased a new stake in shares of Rocky Mountain Chocolate Factory in the fourth quarter valued at about $225,000. 50.27% of the stock is owned by hedge funds and other institutional investors.

Rocky Mountain Chocolate Factory Price Performance

NASDAQ:RMCF traded down $0.02 during trading hours on Monday, hitting $1.17. The company’s stock had a trading volume of 26,360 shares, compared to its average volume of 29,476. The stock has a fifty day moving average of $1.24 and a 200-day moving average of $1.73. Rocky Mountain Chocolate Factory has a 52-week low of $1.12 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.

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.