RCM Technologies, Inc. (NASDAQ:RCMT) Sees Significant Decline in Short Interest

RCM Technologies, Inc. (NASDAQ:RCMT) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 110,200 shares, a decline of 16.3% from the October 31st total of 131,600 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 39,000 shares, the short-interest ratio is currently 2.8 days.

RCM Technologies Trading Down 1.1 %

RCMT opened at $22.88 on Monday. The firm has a market capitalization of $173.89 million, a price-to-earnings ratio of 11.73 and a beta of 0.63. The company’s 50 day simple moving average is $21.79 and its two-hundred day simple moving average is $20.30. RCM Technologies has a 1-year low of $17.11 and a 1-year high of $32.15. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.63 and a quick ratio of 1.63.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RCMT. B. Riley raised their target price on RCM Technologies from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Benchmark raised their price objective on RCM Technologies from $33.00 to $37.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, StockNews.com cut shares of RCM Technologies from a “buy” rating to a “hold” rating in a research note on Monday, November 11th.

Hedge Funds Weigh In On RCM Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Truvestments Capital LLC grew its holdings in RCM Technologies by 2.2% in the 3rd quarter. Truvestments Capital LLC now owns 35,148 shares of the business services provider’s stock valued at $713,000 after buying an additional 772 shares in the last quarter. State Street Corp boosted its position in shares of RCM Technologies by 6.7% during the 3rd quarter. State Street Corp now owns 25,555 shares of the business services provider’s stock valued at $518,000 after acquiring an additional 1,600 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. grew its holdings in shares of 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 purchasing an additional 2,191 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of RCM Technologies in the third quarter valued at about $48,000. Finally, Barclays PLC acquired a new stake in RCM Technologies during the third quarter worth about $180,000. Hedge funds and other institutional investors own 43.20% of the company’s stock.

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.