Short Interest in RCM Technologies, Inc. (NASDAQ:RCMT) Rises By 221.6%

RCM Technologies, Inc. (NASDAQ:RCMT – Get Rating) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 280,100 shares, a growth of 221.6% from the April 30th total of 87,100 shares. Approximately 3.9% of the company’s stock are short sold. Based on an average daily volume of 187,800 shares, the short-interest ratio is currently 1.5 days.

Several analysts have issued reports on the company. TheStreet upgraded RCM Technologies from a “c” rating to a “b-” rating in a research note on Thursday, April 28th. StockNews.com initiated coverage on RCM Technologies in a research note on Thursday, March 31st. They set a “strong-buy” rating on the stock. B. Riley increased their price target on RCM Technologies from $7.50 to $16.50 in a research report on Friday, April 29th. Benchmark increased their price target on RCM Technologies from $8.00 to $16.00 in a research report on Friday, April 1st. Finally, Zacks Investment Research upgraded RCM Technologies from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Thursday, May 5th.

Shares of RCM Technologies stock opened at $22.18 on Thursday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.52. The business’s 50 day simple moving average is $14.46 and its 200-day simple moving average is $9.60. The stock has a market capitalization of $224.79 million, a price-to-earnings ratio of 14.69 and a beta of 1.03. RCM Technologies has a twelve month low of $3.35 and a twelve month high of $24.48.

RCM Technologies (NASDAQ:RCMT – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The business services provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.35. RCM Technologies had a return on equity of 46.67% and a net margin of 6.84%. During the same quarter in the previous year, the business posted $0.08 EPS. Sell-side analysts predict that RCM Technologies will post 2 earnings per share for the current year.

In other RCM Technologies news, CFO Kevin D. Miller sold 3,395 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $19.45, for a total transaction of $66,032.75. Following the sale, the chief financial officer now owns 646,605 shares in the company, valued at $12,576,467.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Bradley Vizi sold 30,683 shares of the company’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $20.06, for a total value of $615,500.98. Following the sale, the chairman now owns 1,511,343 shares in the company, valued at approximately $30,317,540.58. The disclosure for this sale can be found here. Insiders sold 63,930 shares of company stock valued at $1,237,464 in the last three months. 23.90% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Citigroup Inc. acquired a new stake in RCM Technologies in the 1st quarter valued at approximately $26,000. Morgan Stanley acquired a new stake in RCM Technologies in the 1st quarter valued at approximately $32,000. Wells Fargo & Company MN increased its position in RCM Technologies by 452.0% in the 2nd quarter. Wells Fargo & Company MN now owns 9,764 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 7,995 shares during the period. Dorsey Wright & Associates acquired a new stake in RCM Technologies in the 4th quarter valued at approximately $48,000. Finally, Advisor Group Holdings Inc. acquired a new stake in RCM Technologies in the 1st quarter valued at approximately $69,000. Hedge funds and other institutional investors own 33.71% of the company’s stock.

About RCM Technologies (Get Rating)

RCM Technologies, Inc provides business and technology solutions in the United States, Canada, Puerto Rico, and Serbia. 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.

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