RCM Technologies (NASDAQ:RCMT) Cut to "Buy" at Wall Street Zen

Key Points

• RCM Technologies has been downgraded by Wall Street Zen from a "strong-buy" to a "buy" rating, reflecting a change in investment sentiment.
• The company has a consensus rating of "Buy" and an average target price of $33.50, despite recent share price volatility.
• Insiders have sold a total of 33,067 shares of RCM Technologies in the last 90 days, indicating potential shifts in insider confidence.

RCM Technologies (NASDAQ:RCMT - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of RCM Technologies in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $33.50.

RCM Technologies Trading Down 3.3%

NASDAQ:RCMT opened at $23.11 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market cap of $171.25 million, a P/E ratio of 13.13 and a beta of 0.18. The firm has a 50-day simple moving average of $25.67 and a 200-day simple moving average of $22.73. RCM Technologies has a one year low of $13.18 and a one year high of $28.27.

Insider Buying and Selling

In other RCM Technologies news, Chairman Bradley Vizi sold 7,289 shares of the company's 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 owned 1,531,951 shares in the company, valued at approximately $42,143,972.01. This represents a 0.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael Saks sold 5,000 shares of the company's 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 owned 109,547 shares in the company, valued at $3,012,542.50. The trade was a 4.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,067 shares of company stock worth $909,503 in the last 90 days. 26.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its stake in 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 purchasing an additional 579 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in RCM Technologies by 4.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,518 shares of the business services provider's stock valued at $413,000 after purchasing an additional 676 shares in the last quarter. Boston Partners increased its stake in RCM Technologies by 4.2% during the 1st quarter. Boston Partners now owns 25,521 shares of the business services provider's stock valued at $398,000 after purchasing an additional 1,023 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in RCM Technologies during the 2nd quarter valued at approximately $29,000. Finally, Ballast Asset Management LP increased its stake in RCM Technologies by 1.0% during the 2nd quarter. Ballast Asset Management LP now owns 138,511 shares of the business services provider's stock valued at $3,265,000 after purchasing an additional 1,346 shares in the last quarter. Institutional investors and hedge funds own 43.20% of the company's stock.

RCM Technologies Company 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.

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