RCM Technologies, Inc. (NASDAQ:RCMT – Get Rating) – Investment analysts at B. Riley lowered their Q4 2022 earnings estimates for RCM Technologies in a research note issued on Monday, November 14th. B. Riley analyst A. Rygiel now forecasts that the business services provider will post earnings per share of $0.45 for the quarter, down from their prior estimate of $0.50. B. Riley has a “Buy” rating and a $23.00 price objective on the stock. The consensus estimate for RCM Technologies’ current full-year earnings is $1.98 per share.
A number of other equities analysts have also weighed in on the stock. StockNews.com lowered shares of RCM Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 11th. Benchmark lifted their target price on shares of RCM Technologies to $30.00 in a report on Monday, August 15th.
RCM Technologies Trading Up 0.6 %
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of RCMT. Renaissance Technologies LLC boosted its stake in RCM Technologies by 21.2% during the 2nd quarter. Renaissance Technologies LLC now owns 737,965 shares of the business services provider’s stock valued at $14,936,000 after purchasing an additional 128,992 shares during the period. Rutabaga Capital Management LLC MA lifted its stake in shares of RCM Technologies by 36.7% in the 1st quarter. Rutabaga Capital Management LLC MA now owns 447,927 shares of the business services provider’s stock worth $4,417,000 after acquiring an additional 120,168 shares during the period. Hillsdale Investment Management Inc. lifted its stake in shares of RCM Technologies by 72.6% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 228,490 shares of the business services provider’s stock worth $3,814,000 after acquiring an additional 96,100 shares during the period. Marshall Wace LLP acquired a new stake in shares of RCM Technologies in the 3rd quarter worth approximately $1,497,000. Finally, Bank of Montreal Can lifted its stake in shares of RCM Technologies by 450.2% in the 3rd quarter. Bank of Montreal Can now owns 85,274 shares of the business services provider’s stock worth $1,433,000 after acquiring an additional 69,774 shares during the period. 38.92% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at RCM Technologies
In other news, Director Roger H. Ballou sold 23,200 shares of RCM Technologies stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $15.93, for a total value of $369,576.00. Following the completion of the transaction, the director now directly owns 159,382 shares of the company’s stock, valued at approximately $2,538,955.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 23.90% of the company’s stock.
About RCM Technologies
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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