RCM Technologies (NASDAQ:RCMT) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded RCM Technologies (NASDAQ:RCMT) from a "buy" to a strong-buy, though the consensus rating remains "Hold" with an average price target of $36.
• Chairman Bradley Vizi executed an insider sale of 13,666 shares at $27.55 under a pre-arranged Rule 10b5-1 plan, trimming his stake by 0.90% while insiders still own 28.00% of the stock.
• RCMT shares opened at $26.93, trade in a one-year range of $15.29–$28.50, and the company has a market cap of about $189.2M with a P/E of 12.58.

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

A number of other brokerages also recently issued reports on RCMT. Benchmark upped their price target on RCM Technologies from $32.00 to $36.00 and gave the company a "buy" rating in a report on Wednesday. Zacks Research raised RCM Technologies from a "strong sell" rating to a "hold" rating in a report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of RCM Technologies in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $36.00.

RCM Technologies Stock Performance

Shares of RCM Technologies stock opened at $26.93 on Friday. RCM Technologies has a one year low of $15.29 and a one year high of $28.50. The company has a market cap of $189.16 million, a PE ratio of 12.58 and a beta of -0.01. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.98 and a current ratio of 1.98. The business has a 50-day simple moving average of $19.87 and a 200-day simple moving average of $20.91.

Insider Transactions at RCM Technologies

In related news, Chairman Bradley Vizi sold 13,666 shares of the company's stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $27.55, for a total value of $376,498.30. Following the completion of the transaction, the chairman directly owned 1,497,477 shares of the company's stock, valued at $41,255,491.35. This represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 28.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On RCM Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Punch & Associates Investment Management Inc. lifted its stake in RCM Technologies by 40.0% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider's stock valued at $2,782,000 after buying an additional 38,872 shares during the last quarter. Meros Investment Management LP lifted its stake 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 valued at $1,348,000 after buying an additional 26,924 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in RCM Technologies in the fourth quarter valued at approximately $257,000. Barclays PLC lifted its stake in RCM Technologies by 21.1% in the fourth quarter. Barclays PLC now owns 12,717 shares of the business services provider's stock valued at $260,000 after buying an additional 2,216 shares during the last quarter. Finally, State Street Corp lifted its stake in RCM Technologies by 3.8% in the fourth quarter. State Street Corp now owns 69,987 shares of the business services provider's stock valued at $1,431,000 after buying an additional 2,562 shares during the last quarter. 43.20% of the stock is owned by institutional investors and hedge funds.

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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