RCM Technologies, Inc. (NASDAQ:RCMT) Short Interest Down 15.0% in April

RCM Technologies, Inc. (NASDAQ:RCMT) was the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totaling 245,152 shares, a decrease of 15.0% from the March 31st total of 288,578 shares. Approximately 4.8% of the company’s shares are sold short. Based on an average daily trading volume, of 103,026 shares, the days-to-cover ratio is currently 2.4 days.

Insider Buying and Selling

In other news, CFO Kevin D. Miller sold 4,734 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $32.00, for a total transaction of $151,488.00. Following the transaction, the chief financial officer owned 439,066 shares of the company’s stock, valued at approximately $14,050,112. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Bradley Vizi sold 13,666 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $27.55, for a total value of $376,498.30. Following the transaction, the chairman directly owned 1,497,477 shares in the company, valued at approximately $41,255,491.35. This represents a 0.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 36,437 shares of company stock worth $1,068,434. Insiders own 28.00% of the company’s stock.

Institutional Trading of RCM Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. LSV Asset Management lifted its holdings in shares of RCM Technologies by 95.7% during the 3rd quarter. LSV Asset Management now owns 67,575 shares of the business services provider’s stock valued at $1,794,000 after purchasing an additional 33,045 shares during the last quarter. Ritholtz Wealth Management raised its stake in RCM Technologies by 189.4% in the 3rd quarter. Ritholtz Wealth Management now owns 41,391 shares of the business services provider’s stock worth $1,099,000 after acquiring an additional 27,091 shares during the last quarter. SummerHaven Investment Management LLC purchased a new position in RCM Technologies in the 3rd quarter worth $899,000. Punch & Associates Investment Management Inc. raised its stake in RCM Technologies by 40.0% in the 4th quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider’s stock worth $2,782,000 after acquiring an additional 38,872 shares during the last quarter. Finally, Meros Investment Management LP raised its stake in RCM Technologies by 69.0% in the 4th quarter. Meros Investment Management LP now owns 65,951 shares of the business services provider’s stock worth $1,348,000 after acquiring an additional 26,924 shares during the last quarter. Hedge funds and other institutional investors own 43.20% of the company’s stock.

RCM Technologies Stock Down 0.1%

Shares of RCMT traded down $0.03 during midday trading on Friday, hitting $31.26. 47,905 shares of the company’s stock traded hands, compared to its average volume of 55,952. RCM Technologies has a 1 year low of $16.90 and a 1 year high of $32.28. The firm’s fifty day moving average is $23.17 and its 200-day moving average is $21.43. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $219.45 million, a price-to-earnings ratio of 14.61 and a beta of -0.01.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RCMT shares. Zacks Research raised RCM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Wall Street Zen raised RCM Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 11th. Benchmark increased their price objective 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 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 stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $36.00.

RCM Technologies Company Profile

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.