RCM Technologies (NASDAQ:RCMT) Downgraded by Wall Street Zen to "Buy"

Key Points

• RCM Technologies has been downgraded from a "strong-buy" rating to a "buy" rating by Wall Street Zen, indicating a shift in analyst sentiment regarding the company's stock.
• Insider trading activity included Michael Saks and Chairman Bradley Vizi selling shares, with 26.40% of the stock currently owned by company insiders.
• Institutional investors have actively modified their positions in RCM Technologies, with 43.20% of the stock now held by hedge funds and other institutions.

Wall Street Zen downgraded shares of RCM Technologies (NASDAQ:RCMT - Free Report) from a strong-buy rating to a buy rating in a report published on Saturday morning.

RCM Technologies Trading Down 0.9%

NASDAQ:RCMT traded down $0.25 during trading hours on Friday, reaching $26.88. 46,094 shares of the stock were exchanged, compared to its average volume of 51,625. The company has a market capitalization of $199.18 million, a price-to-earnings ratio of 15.27 and a beta of 0.27. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.92. RCM Technologies has a twelve month low of $13.18 and a twelve month high of $28.27. The business has a 50-day moving average of $24.92 and a two-hundred day moving average of $21.06.

Insider Transactions at RCM Technologies

In other 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 completion of the sale, the chairman directly owned 1,531,951 shares in the company, valued at approximately $42,143,972.01. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the insider owned 109,547 shares of the company's stock, valued at approximately $3,012,542.50. The trade was a 4.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 26.40% of the company's stock.

Institutional Trading of RCM Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of RCMT. Police & Firemen s Retirement System of New Jersey purchased a new stake in RCM Technologies in the 2nd quarter worth approximately $29,000. BNP Paribas Financial Markets grew its stake in shares of RCM Technologies by 44.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider's stock valued at $45,000 after buying an additional 579 shares during the period. JPMorgan Chase & Co. grew its stake in shares of RCM Technologies by 1,241.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider's stock valued at $55,000 after buying an additional 2,147 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of RCM Technologies during the 2nd quarter valued at $77,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of RCM Technologies during the 2nd quarter valued at $101,000. 43.20% of the stock is owned by hedge funds and other institutional investors.

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.