RCM Technologies (NASDAQ:RCMT) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded RCM Technologies from “Buy” to “Hold,” following a similar downgrade by Zacks Research. The stock now has an overall “Hold” consensus rating and a $36.00 average price target.
• RCMT shares rose 3.0% to $29.38, compared with a 52-week range of $17.26 to $32.50. The company has a $208.3 million market capitalization and a price-to-earnings ratio of 13.86.
• Institutional investors have increased their positions, and they collectively own 43.2% of the company. Major additions came from Punch & Associates, Pacific Ridge Capital Partners, Meros Investment Management, and JPMorgan Chase.

RCM Technologies (NASDAQ:RCMT - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Other analysts also recently issued reports about the stock. Zacks Research downgraded shares of RCM Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. Weiss Ratings restated a "hold (c+)" rating on shares of RCM Technologies in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, RCM Technologies currently has an average rating of "Hold" and a consensus price target of $36.00.

RCM Technologies Stock Up 3.0%

RCMT opened at $29.38 on Friday. RCM Technologies has a 1-year low of $17.26 and a 1-year high of $32.50. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $208.30 million, a price-to-earnings ratio of 13.86 and a beta of 0.29. The business has a 50 day moving average of $27.07 and a 200-day moving average of $24.18.

Institutional Investors Weigh In On RCM Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Punch & Associates Investment Management Inc. boosted its position in shares of RCM Technologies by 40.0% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider's stock valued at $2,782,000 after acquiring an additional 38,872 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its stake in RCM Technologies by 40.7% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 258,231 shares of the business services provider's stock valued at $5,280,000 after acquiring an additional 74,760 shares during the period. Meros Investment Management LP raised its position in RCM Technologies by 69.0% in the fourth quarter. Meros Investment Management LP now owns 65,951 shares of the business services provider's stock worth $1,348,000 after purchasing an additional 26,924 shares in the last quarter. WNY Asset Management LLC acquired a new position in RCM Technologies in the first quarter worth about $383,000. Finally, JPMorgan Chase & Co. raised its position in RCM Technologies by 331.3% in the third quarter. JPMorgan Chase & Co. now owns 10,007 shares of the business services provider's stock worth $266,000 after purchasing an additional 7,687 shares in the last quarter. Institutional investors own 43.20% of the company's stock.

About RCM Technologies

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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