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.

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 %

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

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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

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