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

Key Points

• Short interest fell by 15.0% in April to 245,152 shares (about 4.8% of the float), with a short-interest ratio of roughly 2.4 days as of April 15.
• Analysts have grown more bullish—Zacks and Wall Street Zen upgraded to strong-buy, Benchmark raised its price target to $36, and the consensus rating is a "Buy" with a $36 price target.
• Company insiders have been trimming positions under Rule 10b5-1 plans (CFO sold 4,734 shares at $32 and the chairman sold 8,237 shares at $27.52), with insiders holding 28.0% of the stock while institutions own 43.2%.

RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) was the target of a large drop in short interest in April. As of April 15th, there was short interest totaling 245,152 shares, a drop of 15.0% from the March 31st total of 288,578 shares. Approximately 4.8% of the company's stock are sold short. Based on an average daily volume of 103,026 shares, the short-interest ratio is presently 2.4 days.

RCM Technologies Price Performance

Shares of NASDAQ:RCMT traded down $0.03 during mid-day trading on Friday, reaching $31.26. The stock had a trading volume of 47,905 shares, compared to its average volume of 55,952. 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 company has a market cap of $219.45 million, a P/E ratio of 14.61 and a beta of -0.01. RCM Technologies has a 1 year low of $16.90 and a 1 year high of $32.28. The business's 50 day moving average price is $23.17 and its 200 day moving average price is $21.43.

Analysts Set New Price Targets

Several analysts have issued reports on RCMT shares. Zacks Research raised RCM Technologies from a "hold" rating to a "strong-buy" rating in a report on Monday, April 13th. Wall Street Zen raised RCM Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 11th. Benchmark boosted their price objective on RCM Technologies from $32.00 to $36.00 and gave the company a "buy" rating in a research report on Wednesday, April 8th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of RCM Technologies in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $36.00.

Insider Buying and Selling at RCM Technologies

In related news, CFO Kevin D. Miller sold 4,734 shares of RCM Technologies stock in a transaction on Monday, April 27th. The stock was sold at an average price of $32.00, for a total value of $151,488.00. Following the completion of the sale, the chief financial officer owned 439,066 shares of the company's stock, valued at $14,050,112. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Bradley Vizi sold 8,237 shares of RCM Technologies stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $27.52, for a total value of $226,682.24. Following the completion of the sale, the chairman directly owned 1,489,240 shares of the company's stock, valued at $40,983,884.80. The trade was a 0.55% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 36,437 shares of company stock valued at $1,068,434 in the last ninety days. 28.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RCM Technologies

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in RCM Technologies by 3.1% during the third quarter. Vanguard Group Inc. now owns 279,889 shares of the business services provider's stock worth $7,431,000 after acquiring an additional 8,532 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its stake in RCM Technologies by 40.7% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 258,231 shares of the business services provider's stock worth $5,280,000 after acquiring an additional 74,760 shares during the last quarter. Ballast Asset Management LP increased its stake in RCM Technologies by 1.0% during the third quarter. Ballast Asset Management LP now owns 139,859 shares of the business services provider's stock worth $3,713,000 after acquiring an additional 1,348 shares during the last quarter. Punch & Associates Investment Management Inc. increased its stake in RCM Technologies by 40.0% during the fourth 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, Geode Capital Management LLC increased its stake in RCM Technologies by 78.9% during the second quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider's stock worth $2,838,000 after acquiring an additional 53,094 shares during the last quarter. 43.20% of the stock is owned by institutional investors.

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.

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