RCM Technologies (NASDAQ:RCMT) Upgraded to Strong-Buy at Zacks Research
by Teresa Graham · The Cerbat GemZacks Research upgraded shares of RCM Technologies (NASDAQ:RCMT – Free Report) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks.com reports.
A number of other research analysts have also weighed in on the company. Wall Street Zen raised RCM Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Benchmark increased their price target on RCM Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, April 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of RCM Technologies in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $36.00.
Read Our Latest Report on RCMT
RCM Technologies Trading Up 4.1%
Shares of RCM Technologies stock traded up $1.18 during trading hours on Monday, reaching $29.70. 17,058 shares of the company’s stock were exchanged, compared to its average volume of 52,604. RCM Technologies has a 52-week low of $15.29 and a 52-week high of $29.37. The firm has a market capitalization of $208.52 million, a price-to-earnings ratio of 13.84 and a beta of -0.01. The company has a fifty day moving average of $20.19 and a 200-day moving average of $20.85. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.54.
Insider Activity at RCM Technologies
In other news, Chairman Bradley Vizi sold 8,237 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $27.52, for a total transaction of $226,682.24. Following the completion of the sale, the chairman directly owned 1,489,240 shares in the company, valued at $40,983,884.80. This represents a 0.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 28.00% of the stock is currently owned by insiders.
Institutional Trading of RCM Technologies
A number of institutional investors and hedge funds have recently made changes to their positions in RCMT. Jane Street Group LLC increased its holdings in shares of RCM Technologies by 41.2% during the 1st quarter. Jane Street Group LLC now owns 23,489 shares of the business services provider’s stock worth $366,000 after buying an additional 6,852 shares during the last quarter. Geode Capital Management LLC increased its holdings in 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 valued at $2,838,000 after purchasing an additional 53,094 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in 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 valued at $55,000 after purchasing an additional 2,147 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in 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 valued at $1,164,000 after purchasing an additional 35,835 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in RCM Technologies in the 2nd quarter valued at $101,000. 43.20% of the stock is currently owned by institutional investors and hedge funds.
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.