Ellsworth Advisors LLC Makes New $780,000 Investment in RCM Technologies, Inc. $RCMT

Ellsworth Advisors LLC bought a new stake in RCM Technologies, Inc. (NASDAQ:RCMT) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 29,361 shares of the business services provider’s stock, valued at approximately $780,000.

Other hedge funds have also added to or reduced their stakes in the company. Ancora Advisors LLC lifted its stake in shares of RCM Technologies by 72.4% during the 1st quarter. Ancora Advisors LLC now owns 168,125 shares of the business services provider’s stock worth $2,623,000 after buying an additional 70,628 shares during the last quarter. Ballast Asset Management LP raised its holdings in RCM Technologies by 1.0% in the 2nd quarter. Ballast Asset Management LP now owns 138,511 shares of the business services provider’s stock valued at $3,265,000 after acquiring an additional 1,346 shares in the last quarter. Geode Capital Management LLC lifted its position in RCM Technologies by 78.9% during the second quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider’s stock worth $2,838,000 after purchasing an additional 53,094 shares during the period. Punch & Associates Investment Management Inc. bought a new stake in shares of RCM Technologies during the 1st quarter worth approximately $1,170,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of RCM Technologies in the 2nd quarter valued at $1,225,000. Institutional investors and hedge funds own 43.20% of the company’s stock.

Analyst Ratings Changes

RCMT has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of RCM Technologies in a report on Monday, December 15th. Zacks Research cut RCM Technologies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Finally, Wall Street Zen cut shares of RCM Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

RCM Technologies Trading Down 1.0%

Shares of RCMT stock opened at $20.30 on Friday. RCM Technologies, Inc. has a twelve month low of $13.18 and a twelve month high of $28.27. The stock’s fifty day simple moving average is $20.83 and its 200 day simple moving average is $23.56. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $150.42 million, a P/E ratio of 11.87 and a beta of -0.01.

RCM Technologies (NASDAQ:RCMT) last announced its quarterly earnings results on Wednesday, November 5th. The business services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The firm had revenue of $70.29 million for the quarter, compared to analyst estimates of $67.34 million. RCM Technologies had a net margin of 4.23% and a return on equity of 35.58%.

RCM Technologies Company Profile

RCM Technologies, Inc (NASDAQ: RCMT) is an information technology consulting firm that specializes in delivering secure, enterprise-level technology solutions. The company’s core offerings include IT infrastructure design and integration, data center modernization, cloud migration and management, cybersecurity services, and digital collaboration platforms. RCM Technologies serves clients across federal and commercial markets, tailoring its services to meet the strict security and compliance requirements of government agencies as well as the performance and scalability needs of private-sector organizations.

Founded in the mid-1980s and headquartered in Dresher, Pennsylvania, RCM Technologies has built a reputation for end-to-end project delivery, from initial assessment and design through implementation and ongoing managed support.