RCM Technologies (NASDAQ:RCMT) Rating Lowered to Buy at Wall Street Zen

RCM Technologies (NASDAQ:RCMT) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

RCM Technologies Stock Performance

NASDAQ RCMT opened at $27.13 on Friday. The company has a fifty day moving average of $24.83 and a 200-day moving average of $21.01. RCM Technologies has a 52-week low of $13.18 and a 52-week high of $28.27. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.85 and a current ratio of 1.85. The company has a market capitalization of $201.03 million, a P/E ratio of 15.41 and a beta of 0.27.

Insiders Place Their Bets

In other RCM Technologies news, Chairman Bradley Vizi sold 7,289 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $27.51, for a total transaction of $200,520.39. Following the completion of the sale, the chairman directly owned 1,531,951 shares in the company, valued at $42,143,972.01. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael Saks sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $27.50, for a total value of $137,500.00. Following the transaction, the insider directly owned 109,547 shares in the company, valued at $3,012,542.50. This trade represents a 4.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RCM Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of RCMT. Ancora Advisors LLC boosted its holdings in RCM Technologies by 72.4% during the 1st quarter. Ancora Advisors LLC now owns 168,125 shares of the business services provider’s stock valued at $2,623,000 after acquiring an additional 70,628 shares during the period. Pacific Ridge Capital Partners LLC lifted its position in RCM Technologies by 30.4% in the first quarter. Pacific Ridge Capital Partners LLC now owns 156,994 shares of the business services provider’s stock valued at $2,449,000 after purchasing an additional 36,608 shares during the last quarter. Ballast Asset Management LP boosted its stake in shares of RCM Technologies by 1.0% during the second quarter. Ballast Asset Management LP now owns 138,511 shares of the business services provider’s stock valued at $3,265,000 after purchasing an additional 1,346 shares during the period. Geode Capital Management LLC grew its holdings in shares of RCM Technologies by 78.9% in the second quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider’s stock worth $2,838,000 after purchasing an additional 53,094 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. bought a new position in shares of RCM Technologies in the first quarter worth approximately $1,170,000. Institutional investors own 43.20% of the company’s stock.

RCM Technologies Company Profile

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.