RCM Technologies (NASDAQ:RCMT) CFO Sells 1,483 Shares
by Tristan Rich · The Markets DailyRCM Technologies, Inc. (NASDAQ:RCMT – Get Free Report) CFO Kevin Miller sold 1,483 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $32.00, for a total transaction of $47,456.00. Following the transaction, the chief financial officer directly owned 446,732 shares in the company, valued at approximately $14,295,424. The trade was a 0.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
RCM Technologies Price Performance
RCM Technologies stock traded up $0.70 during trading hours on Friday, hitting $31.62. 54,375 shares of the company traded hands, compared to its average volume of 56,480. The firm has a market cap of $221.97 million, a P/E ratio of 14.78 and a beta of -0.01. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.54. The firm’s 50-day simple moving average is $21.88 and its two-hundred day simple moving average is $21.17. RCM Technologies, Inc. has a 1-year low of $16.51 and a 1-year high of $32.28.
Analyst Ratings Changes
Several research firms have commented on RCMT. Wall Street Zen raised shares of RCM Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 11th. Weiss Ratings reissued a “hold (c)” rating on shares of RCM Technologies in a research note on Friday, March 27th. Benchmark raised their target price on shares of RCM Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Finally, Zacks Research raised shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $36.00.
Check Out Our Latest Stock Analysis on RCMT
Hedge Funds Weigh In On RCM Technologies
Several hedge funds have recently made changes to their positions in RCMT. Jane Street Group LLC grew its stake in shares of RCM Technologies by 41.2% in the 1st quarter. Jane Street Group LLC now owns 23,489 shares of the business services provider’s stock worth $366,000 after purchasing an additional 6,852 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of RCM Technologies by 78.9% in the 2nd quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider’s stock worth $2,838,000 after purchasing an additional 53,094 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of RCM Technologies by 1,241.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock worth $55,000 after purchasing an additional 2,147 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of RCM Technologies by 264.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 49,386 shares of the business services provider’s stock worth $1,164,000 after purchasing an additional 35,835 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new position in shares of RCM Technologies in the 2nd quarter worth approximately $101,000. Institutional investors and hedge funds own 43.20% of the company’s stock.
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.