RCM Technologies (NASDAQ:RCMT) Shares Cross Above 200-Day Moving Average – Time to Sell?

RCM Technologies, Inc. (NASDAQ:RCMT) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $23.46 and traded as high as $27.89. RCM Technologies shares last traded at $27.71, with a volume of 24,511 shares trading hands.

Wall Street Analyst Weigh In

RCMT has been the topic of a number of recent research reports. Benchmark raised their price objective on RCM Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Weiss Ratings restated a “hold (c+)” rating on shares of RCM Technologies in a report on Friday. Wall Street Zen upgraded RCM Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, Zacks Research cut RCM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, RCM Technologies has an average rating of “Hold” and a consensus target price of $36.00.

RCM Technologies Stock Performance

The business’s fifty day simple moving average is $25.68 and its 200-day simple moving average is $23.46. The firm has a market cap of $196.46 million, a P/E ratio of 13.07 and a beta of 0.29. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.65.

Insider Buying and Selling

In related news, CFO Kevin D. Miller sold 4,734 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $32.00, for a total value of $151,488.00. Following the completion of the sale, the chief financial officer owned 439,066 shares of the company’s stock, valued at $14,050,112. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 28.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in shares of RCM Technologies by 44.1% during the second quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 579 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in RCM Technologies in the third quarter worth $60,000. JPMorgan Chase & Co. raised its holdings 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 in the last quarter. Lazard Asset Management LLC purchased a new position in RCM Technologies during the second quarter valued at $77,000. Finally, Bank of America Corp DE lifted its position in RCM Technologies by 28.1% during the third quarter. Bank of America Corp DE now owns 4,166 shares of the business services provider’s stock valued at $111,000 after buying an additional 915 shares during the period. Institutional investors own 43.20% of the company’s stock.

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.