RCM Technologies, Inc. (NASDAQ:RCMT) Sees Large Decline in Short Interest

RCM Technologies, Inc. (NASDAQ:RCMT) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 245,152 shares, a drop of 15.0% from the March 31st total of 288,578 shares. Currently, 4.8% of the company’s shares are sold short. Based on an average daily volume of 103,026 shares, the days-to-cover ratio is currently 2.4 days.

RCM Technologies Price Performance

RCM Technologies stock opened at $31.26 on Friday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.54. RCM Technologies has a 52-week low of $16.90 and a 52-week high of $32.28. The firm has a market cap of $219.57 million, a PE ratio of 14.61 and a beta of -0.01. The company’s 50 day moving average is $23.17 and its two-hundred day moving average is $21.43.

Analyst Ratings Changes

RCMT has been the topic of a number of research reports. Zacks Research upgraded RCM Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Benchmark boosted their price objective on RCM Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Weiss Ratings reissued a “hold (c)” rating on shares of RCM Technologies in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded RCM Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $36.00.

Insider Buying and Selling at RCM Technologies

In related news, CFO Kevin D. Miller sold 4,734 shares of the company’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 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Bradley Vizi sold 13,666 shares of the company’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $27.55, for a total value of $376,498.30. Following the sale, the chairman owned 1,497,477 shares of the company’s stock, valued at approximately $41,255,491.35. This represents a 0.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 36,437 shares of company stock worth $1,068,434 over the last 90 days. 28.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RCM Technologies

Large investors have recently bought and sold shares of the stock. Pacific Ridge Capital Partners LLC boosted its stake 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 valued at $5,280,000 after buying an additional 74,760 shares during the period. Geode Capital Management LLC increased its stake in shares of 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 buying an additional 53,094 shares during the period. Punch & Associates Investment Management Inc. raised its holdings in RCM Technologies by 40.0% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider’s stock valued at $2,782,000 after acquiring an additional 38,872 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in RCM Technologies by 264.4% in the second quarter. Russell Investments Group Ltd. now owns 49,386 shares of the business services provider’s stock worth $1,164,000 after acquiring an additional 35,835 shares during the last quarter. Finally, SummerHaven Investment Management LLC purchased a new position in RCM Technologies in the third quarter worth approximately $899,000. Hedge funds and other institutional investors own 43.20% of the company’s stock.

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.