Exchange Traded Concepts LLC Purchases New Stake in RCM Technologies, Inc. (NASDAQ:RCMT)

Exchange Traded Concepts LLC bought a new position in RCM Technologies, Inc. (NASDAQ:RCMT - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 16,566 shares of the business services provider's stock, valued at approximately $258,000. Exchange Traded Concepts LLC owned about 0.22% of RCM Technologies as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Truvestments Capital LLC increased its holdings in shares of RCM Technologies by 31.2% in the 4th quarter. Truvestments Capital LLC now owns 46,125 shares of the business services provider's stock worth $1,022,000 after buying an additional 10,977 shares during the last quarter. Pacific Ridge Capital Partners LLC bought a new stake in shares of RCM Technologies during the 4th quarter worth $2,668,000. Russell Investments Group Ltd. purchased a new position in RCM Technologies in the fourth quarter worth $840,000. Barclays PLC grew its position in RCM Technologies by 17.1% in the fourth quarter. Barclays PLC now owns 10,405 shares of the business services provider's stock worth $231,000 after acquiring an additional 1,517 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in RCM Technologies in the fourth quarter valued at $258,000. Hedge funds and other institutional investors own 43.20% of the company's stock.

RCM Technologies Trading Up 1.7%

Shares of RCMT stock traded up $0.38 on Thursday, hitting $23.30. 64,057 shares of the company's stock traded hands, compared to its average volume of 41,054. The stock has a market capitalization of $172.42 million, a price-to-earnings ratio of 13.47 and a beta of 0.28. The company's fifty day simple moving average is $21.12 and its 200 day simple moving average is $19.72. RCM Technologies, Inc. has a one year low of $13.18 and a one year high of $26.37. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.62 and a current ratio of 1.62.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). RCM Technologies had a net margin of 4.66% and a return on equity of 42.85%. The business had revenue of $84.47 million for the quarter, compared to analysts' expectations of $76.04 million.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wall Street Zen raised RCM Technologies from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 9th. B. Riley raised RCM Technologies to a "strong-buy" rating in a report on Tuesday, March 18th. Finally, Benchmark cut their target price on RCM Technologies from $37.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, March 21st.

RCM Technologies Profile

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