RCM Technologies (NASDAQ:RCMT) Shares Cross Above 200 Day Moving Average – Here’s What Happened

RCM Technologies, Inc. (NASDAQ:RCMT)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $20.46 and traded as high as $22.63. RCM Technologies shares last traded at $22.43, with a volume of 26,234 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Benchmark lifted their price target on shares of RCM Technologies from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. B. Riley lifted their target price on shares of RCM Technologies from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, StockNews.com downgraded shares of RCM Technologies from a “buy” rating to a “hold” rating in a research note on Monday, November 11th.

RCM Technologies Trading Down 1.2 %

The company has a market cap of $170.40 million, a PE ratio of 11.50 and a beta of 0.64. The stock has a 50 day moving average price of $22.49 and a 200 day moving average price of $20.46. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.06.

Insider Buying and Selling

In other news, insider Michael Saks sold 5,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $23.22, for a total value of $116,100.00. Following the completion of the transaction, the insider now owns 119,158 shares in the company, valued at $2,766,848.76. The trade was a 4.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 26.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RCM Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Klein Pavlis & Peasley Financial Inc. grew its stake in shares of RCM Technologies by 19.9% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,208 shares of the business services provider’s stock valued at $247,000 after purchasing an additional 2,191 shares during the period. Panagora Asset Management Inc. bought a new stake in RCM Technologies during the second quarter valued at approximately $458,000. Marshall Wace LLP increased its holdings in RCM Technologies by 174.0% during the second quarter. Marshall Wace LLP now owns 38,392 shares of the business services provider’s stock valued at $719,000 after buying an additional 24,380 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in RCM Technologies in the third quarter worth approximately $315,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of RCM Technologies during the 3rd quarter worth $425,000. Institutional investors own 43.20% of the company’s stock.

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.