share_log

RCM Technologies, Inc. (NASDAQ:RCMT) Short Interest Update

kopsource ·  Aug 27, 2022 20:41

RCM Technologies, Inc. (NASDAQ:RCMT – Get Rating) was the recipient of a significant decline in short interest in the month of August. As of August 15th, there was short interest totalling 158,600 shares, a decline of 29.0% from the July 31st total of 223,400 shares. Based on an average trading volume of 203,500 shares, the short-interest ratio is presently 0.8 days. Currently, 2.2% of the shares of the stock are sold short.

Insider Buying and Selling

In related news, insider Michael Saks sold 10,000 shares of RCM Technologies stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $27.02, for a total transaction of $270,200.00. Following the transaction, the insider now directly owns 119,343 shares of the company's stock, valued at $3,224,647.86. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Michael Saks sold 10,000 shares of RCM Technologies stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $27.02, for a total transaction of $270,200.00. Following the transaction, the insider now directly owns 119,343 shares of the company's stock, valued at $3,224,647.86. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kevin D. Miller sold 16,250 shares of RCM Technologies stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $24.00, for a total value of $390,000.00. Following the completion of the transaction, the chief financial officer now directly owns 583,750 shares in the company, valued at approximately $14,010,000. The disclosure for this sale can be found here. Insiders have sold a total of 118,576 shares of company stock valued at $3,076,621 over the last three months. Company insiders own 23.90% of the company's stock.

Get RCM Technologies alerts:

Institutional Investors Weigh In On RCM Technologies

Institutional investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC lifted its holdings in shares of RCM Technologies by 93.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 23,473 shares of the business services provider's stock valued at $167,000 after buying an additional 11,359 shares during the last quarter. Rutabaga Capital Management LLC MA lifted its holdings in shares of RCM Technologies by 36.7% during the 1st quarter. Rutabaga Capital Management LLC MA now owns 447,927 shares of the business services provider's stock valued at $4,417,000 after buying an additional 120,168 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of RCM Technologies by 104.7% during the 4th quarter. Acadian Asset Management LLC now owns 184,351 shares of the business services provider's stock valued at $1,310,000 after buying an additional 94,294 shares during the last quarter. Sigma Planning Corp acquired a new stake in shares of RCM Technologies during the 1st quarter valued at about $156,000. Finally, Spire Wealth Management lifted its holdings in shares of RCM Technologies by 358.6% during the 2nd quarter. Spire Wealth Management now owns 20,003 shares of the business services provider's stock valued at $405,000 after buying an additional 15,641 shares during the last quarter. 33.71% of the stock is currently owned by institutional investors and hedge funds.

RCM Technologies Trading Down 3.5 %

Shares of NASDAQ RCMT opened at $17.75 on Friday. RCM Technologies has a one year low of $4.96 and a one year high of $28.82. The firm has a market capitalization of $181.09 million, a PE ratio of 9.01 and a beta of 0.89. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $18.82 and a two-hundred day moving average price of $15.61.

RCM Technologies (NASDAQ:RCMT – Get Rating) last announced its quarterly earnings data on Thursday, August 11th. The business services provider reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.05. RCM Technologies had a return on equity of 57.58% and a net margin of 7.97%. As a group, analysts predict that RCM Technologies will post 1.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RCMT shares. B. Riley raised RCM Technologies from a "neutral" rating to a "buy" rating and set a $23.00 price target on the stock in a research note on Monday, August 15th. Benchmark lifted their price target on RCM Technologies to $30.00 in a research note on Monday, August 15th. Finally, StockNews.com upgraded RCM Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, August 19th.

About RCM Technologies

(Get Rating)

RCM Technologies, Inc provides business and technology solutions in the United States, Canada, Puerto Rico, and Serbia. 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.

Further Reading

  • Get a free copy of the StockNews.com research report on RCM Technologies (RCMT)
  • Why This Dip in Advanced Auto Parts May be an Opportunity
  • MarketBeat: Week in Review 8/22 – 8/26
  • Institutional Buying Put A Bottom In Marvell Technology
  • Dell Stock Retreats On Weaker Sales, Falls Into Value Terrirtory
  • 3 Reasons Dollar General's Rally Has Legs

Receive News & Ratings for RCM Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RCM Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment