RCM Technologies (NASDAQ:RCMT) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of RCM Technologies (NASDAQ:RCMT – Get Rating) in a report released on Thursday. The firm issued a buy rating on the business services provider’s stock.

RCM Technologies Stock Down 1.0 %

Shares of RCMT opened at $12.85 on Thursday. The stock’s 50-day moving average price is $13.63 and its two-hundred day moving average price is $14.82. RCM Technologies has a 12 month low of $7.36 and a 12 month high of $28.82. The company has a market capitalization of $126.44 million, a PE ratio of 6.43 and a beta of 0.87. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.04.

RCM Technologies (NASDAQ:RCMT – Get Rating) last announced its quarterly earnings data on Thursday, March 16th. The business services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.02. RCM Technologies had a net margin of 7.34% and a return on equity of 60.53%. The firm had revenue of $70.22 million for the quarter, compared to analyst estimates of $67.05 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hillsdale Investment Management Inc. lifted its holdings in shares of RCM Technologies by 72.6% in the third quarter. Hillsdale Investment Management Inc. now owns 228,490 shares of the business services provider’s stock worth $3,814,000 after buying an additional 96,100 shares in the last quarter. Rutabaga Capital Management LLC MA grew its holdings in RCM Technologies by 8.5% in the 3rd quarter. Rutabaga Capital Management LLC MA now owns 209,956 shares of the business services provider’s stock worth $3,504,000 after acquiring an additional 16,450 shares during the last quarter. Group One Trading L.P. increased its holdings in RCM Technologies by 133.7% during the 3rd quarter. Group One Trading L.P. now owns 2,737 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 1,566 shares during the period. HRT Financial LP purchased a new position in shares of RCM Technologies during the fourth quarter valued at approximately $473,000. Finally, Janney Montgomery Scott LLC increased its position in RCM Technologies by 7.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,120 shares of the business services provider’s stock valued at $199,000 after purchasing an additional 1,062 shares during the period. 40.53% of the stock is owned by institutional investors.

About RCM Technologies

(Get Rating)

RCM Technologies, Inc engages in the provision of business and technology solutions. It operates through the following segments: Engineering, Specialty Health Care, and Information Technology. The Engineering segment offers a portfolio of engineering and design services across energy services, process and industrial, and aerospace sectors.