RCM Technologies, Inc. (NASDAQ:RCMT) Short Interest Up 24.3% in March

RCM Technologies, Inc. (NASDAQ:RCMT) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 190,200 shares, an increase of 24.3% from the February 28th total of 153,000 shares. Based on an average daily trading volume, of 52,800 shares, the short-interest ratio is currently 3.6 days. Approximately 4.0% of the company’s shares are sold short.

Institutional Investors Weigh In On RCM Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacific Ridge Capital Partners LLC acquired a new stake in shares of RCM Technologies during the fourth quarter valued at about $2,668,000. Ancora Advisors LLC purchased a new position in RCM Technologies in the fourth quarter valued at about $2,161,000. Two Sigma Investments LP grew its stake in RCM Technologies by 10.0% during the 4th quarter. Two Sigma Investments LP now owns 58,228 shares of the business services provider’s stock valued at $1,290,000 after purchasing an additional 5,304 shares in the last quarter. Truvestments Capital LLC raised its holdings in RCM Technologies by 31.2% in the fourth quarter. Truvestments Capital LLC now owns 46,125 shares of the business services provider’s stock valued at $1,022,000 after acquiring an additional 10,977 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in RCM Technologies during the 4th quarter valued at $840,000. Hedge funds and other institutional investors own 43.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RCMT. B. Riley upgraded RCM Technologies to a “strong-buy” rating in a report on Tuesday, March 18th. Benchmark reduced their price objective on RCM Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, March 21st.

RCM Technologies Stock Up 2.8 %

RCM Technologies stock traded up $0.44 during trading on Tuesday, reaching $16.04. 32,911 shares of the company’s stock were exchanged, compared to its average volume of 47,686. The company’s 50-day moving average is $18.31 and its two-hundred day moving average is $20.53. The firm has a market cap of $121.73 million, a price-to-earnings ratio of 8.23 and a beta of 0.58. RCM Technologies has a 52-week low of $13.18 and a 52-week high of $26.37. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.63 and a current ratio of 1.63.

RCM Technologies (NASDAQ:RCMT) last released its quarterly earnings results on Wednesday, March 12th. The business services provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.37). The company had revenue of $76.91 million for the quarter, compared to analyst estimates of $79.00 million. RCM Technologies had a return on equity of 58.70% and a net margin of 5.77%.

About RCM Technologies

RCM Technologies, Inc provides business and technology solutions in the United States, Canada, Puerto Rico, and Europe. It operates through three segments: Engineering, Specialty Health Care, and Life Sciences and Information Technology. The Engineering segment offers a range of engineering services, including project management engineering and design, engineering analysis, engineer-procure-construct, configuration management, hardware/software validation and verification, quality assurance, technical writing and publications, manufacturing process planning and improvement, and 3D/BIM integrated design.