B. Riley Forecasts Strong Price Appreciation for RCM Technologies (NASDAQ:RCMT) Stock

RCM Technologies (NASDAQ:RCMT) had its target price lifted by research analysts at B. Riley from $35.00 to $37.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. B. Riley’s price target indicates a potential upside of 42.86% from the stock’s previous close.

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

RCM Technologies Stock Up 3.4 %

Shares of NASDAQ RCMT opened at $25.90 on Monday. RCM Technologies has a 12-month low of $17.11 and a 12-month high of $32.15. The firm’s 50-day simple moving average is $20.97 and its 200 day simple moving average is $20.07. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.84. The company has a market cap of $197.62 million, a price-to-earnings ratio of 13.28 and a beta of 0.63.

Institutional Inflows and Outflows

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