RCM Technologies (NASDAQ:RCMT) Shares Pass Above 200-Day Moving Average of $19.80

RCM Technologies, Inc. (NASDAQ:RCMT)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.80 and traded as high as $20.39. RCM Technologies shares last traded at $20.03, with a volume of 22,498 shares.

Analyst Upgrades and Downgrades

Separately, Benchmark reiterated a “buy” rating and issued a $33.00 price target on shares of RCM Technologies in a research note on Tuesday, August 13th.

RCM Technologies Stock Performance

The company has a fifty day moving average price of $19.47 and a two-hundred day moving average price of $19.80. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market capitalization of $155.29 million, a P/E ratio of 9.72 and a beta of 0.64.

RCM Technologies (NASDAQ:RCMT) last posted its earnings results on Wednesday, August 7th. The business services provider reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). RCM Technologies had a return on equity of 67.39% and a net margin of 6.19%. The business had revenue of $69.16 million for the quarter, compared to the consensus estimate of $69.90 million. During the same period in the previous year, the firm earned $0.47 earnings per share. Equities analysts forecast that RCM Technologies, Inc. will post 2.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its position in shares of RCM Technologies by 466.4% in the 1st 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. Janney Montgomery Scott LLC increased its stake in RCM Technologies by 8.8% in 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. O Shaughnessy Asset Management LLC raised its holdings in shares of RCM Technologies by 13.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 73,506 shares of the business services provider’s stock valued at $1,571,000 after purchasing an additional 8,513 shares during the period. Tucker Asset Management LLC boosted its holdings in RCM Technologies by 150.0% in the fourth quarter. Tucker Asset Management LLC now owns 1,250 shares of the business services provider’s stock worth $36,000 after acquiring an additional 750 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new position in shares of RCM Technologies in the 2nd quarter worth $458,000. 43.20% of the stock is owned by institutional investors and hedge funds.

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.