Exchange Traded Concepts LLC Buys Shares of 15,524 RCM Technologies, Inc. (NASDAQ:RCMT)

Exchange Traded Concepts LLC purchased a new position in shares of RCM Technologies, Inc. (NASDAQ:RCMT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,524 shares of the business services provider’s stock, valued at approximately $315,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RCMT. Klein Pavlis & Peasley Financial Inc. raised its stake in 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 worth $247,000 after buying an additional 2,191 shares during the period. Quadrature Capital Ltd bought a new stake in shares of RCM Technologies in the fourth quarter worth about $252,000. Panagora Asset Management Inc. acquired a new stake in shares of RCM Technologies during the second quarter worth about $458,000. Truvestments Capital LLC lifted its holdings in shares of RCM Technologies by 79.3% during the 1st quarter. Truvestments Capital LLC now owns 28,906 shares of the business services provider’s stock valued at $618,000 after purchasing an additional 12,788 shares in the last quarter. Finally, Marshall Wace LLP grew its position in shares of RCM Technologies by 174.0% in the 2nd quarter. Marshall Wace LLP now owns 38,392 shares of the business services provider’s stock valued at $719,000 after purchasing an additional 24,380 shares during the period. 43.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Benchmark reaffirmed 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 Price Performance

RCMT stock opened at $21.58 on Friday. The stock has a market cap of $164.66 million, a PE ratio of 10.48 and a beta of 0.64. The stock has a 50-day moving average price of $19.97 and a two-hundred day moving average price of $19.71. RCM Technologies, Inc. has a 1 year low of $17.11 and a 1 year high of $32.15. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.84.

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

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.