RCM Technologies (NASDAQ:RCMT) Shares Pass Above 200 Day Moving Average – Here’s Why

Shares of RCM Technologies, Inc. (NASDAQ:RCMT) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.15 and traded as high as $28.66. RCM Technologies shares last traded at $27.51, with a volume of 69,120 shares.

Analyst Upgrades and Downgrades

RCMT has been the subject of a number of recent analyst reports. Benchmark increased their target price on shares of RCM Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. Weiss Ratings restated a “hold (c)” rating on shares of RCM Technologies in a research report on Friday, March 27th. Zacks Research lowered shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Wall Street Zen upgraded shares of RCM Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.00.

RCM Technologies Stock Down 1.7%

The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.92 and a current ratio of 1.92. The company has a market cap of $195.05 million, a P/E ratio of 12.98 and a beta of 0.29. The stock has a 50 day moving average price of $25.94 and a 200 day moving average price of $23.15.

Insider Transactions at RCM Technologies

In other RCM Technologies news, CFO Kevin D. Miller sold 4,734 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $32.00, for a total value of $151,488.00. Following the sale, the chief financial officer directly owned 439,066 shares in the company, valued at approximately $14,050,112. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,534 shares of company stock worth $465,253 over the last quarter. 28.00% of the stock is owned by insiders.

Institutional Investors Weigh In On RCM Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Sei Investments Co. boosted its position in shares of RCM Technologies by 209.9% during the 1st quarter. Sei Investments Co. now owns 126,872 shares of the business services provider’s stock valued at $2,428,000 after purchasing an additional 85,936 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its holdings in shares of RCM Technologies by 40.7% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 258,231 shares of the business services provider’s stock worth $5,280,000 after purchasing an additional 74,760 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of RCM Technologies by 78.9% in the 2nd 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 in the last quarter. Punch & Associates Investment Management Inc. raised its holdings in shares of RCM Technologies by 40.0% in the 4th quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider’s stock worth $2,782,000 after purchasing an additional 38,872 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in RCM Technologies by 264.4% during the second quarter. Russell Investments Group Ltd. now owns 49,386 shares of the business services provider’s stock valued at $1,164,000 after purchasing an additional 35,835 shares during the last quarter. 43.20% of the stock is owned by institutional investors and hedge funds.

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.