RCM Technologies (NASDAQ:RCMT) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

RCM Technologies, Inc. (NASDAQ:RCMT)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.46 and traded as high as $22.63. RCM Technologies shares last traded at $22.43, with a volume of 26,234 shares traded.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. StockNews.com downgraded RCM Technologies from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. B. Riley increased their price target on RCM Technologies from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Benchmark upped their price objective on shares of RCM Technologies from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, November 11th.

RCM Technologies Price Performance

The company has a market cap of $164.70 million, a price-to-earnings ratio of 11.12 and a beta of 0.64. The company has a fifty day simple moving average of $22.54 and a two-hundred day simple moving average of $20.50. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.06.

Insider Activity at RCM Technologies

In other news, insider Michael Saks sold 2,852 shares of RCM Technologies stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $23.99, for a total transaction of $68,419.48. Following the completion of the sale, the insider now directly owns 114,158 shares in the company, valued at $2,738,650.42. The trade was a 2.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 26.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RCM Technologies

Several large investors have recently added to or reduced their stakes in the business. Klein Pavlis & Peasley Financial Inc. increased its holdings in shares of 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 last quarter. Panagora Asset Management Inc. acquired a new stake in RCM Technologies during the second quarter worth about $458,000. Marshall Wace LLP raised its holdings 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 worth $719,000 after purchasing an additional 24,380 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of RCM Technologies in the 3rd quarter valued at about $315,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of RCM Technologies in the 3rd quarter valued at about $425,000. 43.20% of the stock is currently owned by hedge funds and other institutional investors.

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.