RCM Technologies, Inc. (NASDAQ:RCMT – Get Rating) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 167,100 shares, a growth of 22.2% from the August 31st total of 136,700 shares. Currently, 2.2% of the company's shares are short sold. Based on an average daily volume of 151,700 shares, the days-to-cover ratio is currently 1.1 days.
Analyst Ratings Changes
Several research firms have recently issued reports on RCMT. Benchmark boosted their target price on RCM Technologies to $30.00 in a research note on Monday, August 15th. B. Riley raised RCM Technologies from a "neutral" rating to a "buy" rating and set a $23.00 target price on the stock in a research note on Monday, August 15th. Finally, StockNews.com raised RCM Technologies from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 19th.
Get RCM Technologies alerts:Institutional Investors Weigh In On RCM Technologies
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RCMT. WNY Asset Management LLC purchased a new stake in RCM Technologies in the fourth quarter worth $2,832,000. Renaissance Technologies LLC grew its stake in RCM Technologies by 21.2% in the second quarter. Renaissance Technologies LLC now owns 737,965 shares of the business services provider's stock worth $14,936,000 after purchasing an additional 128,992 shares during the period. Rutabaga Capital Management LLC MA grew its stake in shares of RCM Technologies by 36.7% in the first quarter. Rutabaga Capital Management LLC MA now owns 447,927 shares of the business services provider's stock worth $4,417,000 after acquiring an additional 120,168 shares during the last quarter. Gratus Capital LLC purchased a new stake in shares of RCM Technologies in the second quarter worth $625,000. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of RCM Technologies by 48.0% in the second quarter. O Shaughnessy Asset Management LLC now owns 80,803 shares of the business services provider's stock worth $1,635,000 after acquiring an additional 26,223 shares during the last quarter. 38.92% of the stock is owned by hedge funds and other institutional investors.
RCM Technologies Trading Up 2.9 %
Shares of RCMT traded up $0.47 during mid-day trading on Friday, hitting $16.69. 699,834 shares of the company's stock traded hands, compared to its average volume of 93,860. The firm has a market capitalization of $170.24 million, a P/E ratio of 8.47 and a beta of 0.89. The business's 50-day moving average price is $16.83 and its 200-day moving average price is $17.24. RCM Technologies has a 1 year low of $5.22 and a 1 year high of $28.82. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.01.RCM Technologies (NASDAQ:RCMT – Get Rating) last issued its quarterly earnings results on Thursday, August 11th. The business services provider reported $0.57 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts forecast that RCM Technologies will post 1.98 EPS for the current fiscal year.
About RCM Technologies
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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)
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