RCM Technologies (NASDAQ:RCMT) Share Price Passes Below Two Hundred Day Moving Average – Time to Sell?

RCM Technologies, Inc. (NASDAQ:RCMT) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.72 and traded as low as $21.33. RCM Technologies shares last traded at $21.70, with a volume of 64,861 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RCMT shares. Benchmark lifted their price objective on shares of RCM Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. Wall Street Zen downgraded shares of RCM Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RCM Technologies in a report on Friday, March 27th. Finally, Zacks Research raised shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $36.00.

RCM Technologies Price Performance

The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $153.85 million, a P/E ratio of 10.24 and a beta of 0.46. The business’s fifty day moving average price is $25.29 and its 200-day moving average price is $21.72.

RCM Technologies (NASDAQ:RCMT) last posted its quarterly earnings data on Friday, April 3rd. The business services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. The company had revenue of $86.48 million during the quarter, compared to the consensus estimate of $84.46 million. RCM Technologies had a net margin of 5.03% and a return on equity of 37.76%. As a group, sell-side analysts predict that RCM Technologies, Inc. will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling at RCM Technologies

In other RCM Technologies news, Chairman Bradley Vizi sold 8,237 shares of the business’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $27.52, for a total value of $226,682.24. Following the completion of the sale, the chairman directly owned 1,489,240 shares of the company’s stock, valued at $40,983,884.80. The trade was a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin D. Miller sold 4,734 shares of the business’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $32.00, for a total transaction of $151,488.00. Following the completion of the sale, the chief financial officer directly owned 439,066 shares of the company’s stock, valued at $14,050,112. This represents a 1.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 36,437 shares of company stock valued at $1,068,434 over the last three months. 28.00% of the stock is currently owned by insiders.

Institutional Trading of RCM Technologies

Several hedge funds have recently added to or reduced their stakes in RCMT. BNP Paribas Financial Markets lifted its stake in RCM Technologies by 44.1% in the second quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock worth $45,000 after purchasing an additional 579 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in RCM Technologies by 1,241.0% in the second quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock worth $55,000 after purchasing an additional 2,147 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in RCM Technologies in the third quarter worth $60,000. Lazard Asset Management LLC bought a new stake in RCM Technologies in the second quarter worth $77,000. Finally, New York State Common Retirement Fund bought a new stake in RCM Technologies in the second quarter worth $101,000. 43.20% of the stock is owned by institutional investors.

About RCM Technologies

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.