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

Key Points

• RCM Technologies, Inc. experienced a significant increase in short interest, rising by 22.1% to 394,000 shares as of August 31st, indicating a more bearish sentiment among investors.
• The company's stock reached $27.49 per share, with a market cap of $203.73 million and a price-to-earnings ratio of 15.62.
• Insider transactions revealed that key executives sold shares worth $615,940 over the past three months, reflecting a decrease in their holdings.

RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 394,000 shares, a growth of 22.1% from the August 15th total of 322,800 shares. Based on an average trading volume of 61,400 shares, the short-interest ratio is currently 6.4 days. Approximately 8.4% of the company's shares are sold short. Approximately 8.4% of the company's shares are sold short. Based on an average trading volume of 61,400 shares, the short-interest ratio is currently 6.4 days.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of RCM Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Strong Buy" and a consensus price target of $33.50.

Insider Buying and Selling

In other RCM Technologies news, Chairman Bradley Vizi sold 7,289 shares of RCM Technologies stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $27.51, for a total transaction of $200,520.39. Following the transaction, the chairman directly owned 1,531,951 shares of the company's stock, valued at $42,143,972.01. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Saks sold 5,000 shares of RCM Technologies stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $27.50, for a total transaction of $137,500.00. Following the transaction, the insider directly owned 109,547 shares in the company, valued at approximately $3,012,542.50. This trade represents a 4.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,649 shares of company stock worth $870,508. 26.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RCM Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Ancora Advisors LLC lifted its stake in RCM Technologies by 72.4% during the first quarter. Ancora Advisors LLC now owns 168,125 shares of the business services provider's stock valued at $2,623,000 after buying an additional 70,628 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in shares of RCM Technologies by 30.4% in the first quarter. Pacific Ridge Capital Partners LLC now owns 156,994 shares of the business services provider's stock worth $2,449,000 after buying an additional 36,608 shares during the period. Ballast Asset Management LP boosted its holdings in shares of RCM Technologies by 1.0% in the second quarter. Ballast Asset Management LP now owns 138,511 shares of the business services provider's stock worth $3,265,000 after buying an additional 1,346 shares during the period. Geode Capital Management LLC boosted its holdings in shares of RCM Technologies by 78.9% in the second quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider's stock worth $2,838,000 after buying an additional 53,094 shares during the period. Finally, Punch & Associates Investment Management Inc. acquired a new position in shares of RCM Technologies in the first quarter worth about $1,170,000. 43.20% of the stock is owned by institutional investors and hedge funds.

RCM Technologies Price Performance

RCMT stock traded down $0.09 during trading on Friday, hitting $27.40. The company had a trading volume of 90,804 shares, compared to its average volume of 47,763. The firm has a market capitalization of $203.03 million, a price-to-earnings ratio of 15.57 and a beta of 0.27. The business has a 50 day moving average of $25.53 and a 200 day moving average of $21.82. RCM Technologies has a fifty-two week low of $13.18 and a fifty-two week high of $28.27. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.92.

About RCM Technologies

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.