RCM Technologies (NASDAQ:RCMT) Stock Passes Above 200 Day Moving Average – What’s Next?

RCM Technologies, Inc. (NASDAQ:RCMT)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $26.69 and traded as high as $42.51. RCM Technologies shares last traded at $40.51, with a volume of 53,026 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RCMT shares. Weiss Ratings reissued a “hold (c+)” rating on shares of RCM Technologies in a research note on Friday, July 17th. Benchmark raised their price target on RCM Technologies from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Wall Street Zen upgraded shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a report on Sunday, August 16th. Zacks Research raised shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 24th. Finally, B. Riley Financial upped their price objective on shares of RCM Technologies from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, RCM Technologies currently has an average rating of “Buy” and an average target price of $45.00.

RCM Technologies Stock Up 1.2%

The company’s 50-day moving average is $32.21 and its 200 day moving average is $26.79. The company has a market capitalization of $291.37 million, a PE ratio of 17.82 and a beta of 0.32. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.92 and a current ratio of 1.92.

RCM Technologies (NASDAQ:RCMT) last posted its quarterly earnings results on Thursday, August 13th. The business services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. The firm had revenue of $93.82 million for the quarter, compared to analysts’ expectations of $81.75 million. As a group, analysts anticipate that RCM Technologies, Inc. will post 2.6 EPS for the current year.

Insider Transactions at RCM Technologies

In related news, Chairman Bradley Vizi sold 74,719 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $38.86, for a total transaction of $2,903,580.34. Following the sale, the chairman directly owned 1,402,477 shares of the company’s stock, valued at $54,500,256.22. This trade represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Saks sold 11,792 shares of RCM Technologies stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $33.56, for a total value of $395,739.52. Following the completion of the sale, the insider owned 99,307 shares of the company’s stock, valued at $3,332,742.92. The trade was a 10.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 219,997 shares of company stock worth $8,238,837 over the last quarter. 28.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RCM Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in shares of RCM Technologies by 44.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock worth $45,000 after buying an additional 579 shares during the last quarter. California State Teachers Retirement System increased its position in RCM Technologies by 570.9% during the second quarter. California State Teachers Retirement System now owns 1,778 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 1,513 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in RCM Technologies by 1,241.0% in the second quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 2,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in RCM Technologies in the third quarter worth about $60,000. Finally, Lazard Asset Management LLC purchased a new position in RCM Technologies in the second quarter worth about $77,000. 43.20% of the stock is owned by institutional investors.

About RCM Technologies

RCM Technologies, Inc (NASDAQ: RCMT) is an information technology consulting firm that specializes in delivering secure, enterprise-level technology solutions. The company’s core offerings include IT infrastructure design and integration, data center modernization, cloud migration and management, cybersecurity services, and digital collaboration platforms. RCM Technologies serves clients across federal and commercial markets, tailoring its services to meet the strict security and compliance requirements of government agencies as well as the performance and scalability needs of private-sector organizations.

Founded in the mid-1980s and headquartered in Dresher, Pennsylvania, RCM Technologies has built a reputation for end-to-end project delivery, from initial assessment and design through implementation and ongoing managed support.