RCM Technologies (NASDAQ:RCMT) Stock Passes Below 200 Day Moving Average of $24.41

RCM Technologies, Inc. (NASDAQ:RCMT) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.41 and traded as low as $18.65. RCM Technologies shares last traded at $18.69, with a volume of 61,265 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RCMT. Benchmark reiterated a “buy” rating and issued a $33.00 price objective on shares of RCM Technologies in a research report on Wednesday, May 15th. StockNews.com upgraded shares of RCM Technologies from a “hold” rating to a “buy” rating in a research report on Friday, April 12th.

RCM Technologies Price Performance

The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.75. The business’s 50-day simple moving average is $19.94 and its 200 day simple moving average is $24.41. The company has a market capitalization of $144.85 million, a P/E ratio of 9.07 and a beta of 0.70.

RCM Technologies (NASDAQ:RCMT) last released its earnings results on Wednesday, May 8th. The business services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. RCM Technologies had a net margin of 6.32% and a return on equity of 74.07%. The business had revenue of $71.94 million for the quarter, compared to the consensus estimate of $72.27 million. As a group, sell-side analysts anticipate that RCM Technologies, Inc. will post 2.05 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Kent Lake Capital LLC increased its position in shares of RCM Technologies by 20.7% in the third quarter. Kent Lake Capital LLC now owns 123,369 shares of the business services provider’s stock worth $2,411,000 after acquiring an additional 21,158 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of RCM Technologies by 13.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 73,506 shares of the business services provider’s stock worth $1,571,000 after acquiring an additional 8,513 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of RCM Technologies by 466.4% in the first quarter. Acadian Asset Management LLC now owns 59,930 shares of the business services provider’s stock worth $1,279,000 after acquiring an additional 49,350 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in shares of RCM Technologies by 9.8% in the first quarter. Hillsdale Investment Management Inc. now owns 42,733 shares of the business services provider’s stock worth $913,000 after acquiring an additional 3,800 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in RCM Technologies by 8.8% during the first quarter. Janney Montgomery Scott LLC now owns 33,979 shares of the business services provider’s stock valued at $726,000 after purchasing an additional 2,737 shares in the last quarter. 43.20% of the stock is owned by hedge funds and other institutional investors.

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.