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RCM Technologies (NASDAQ:RCMT) Share Price Passes Above 200 Day Moving Average - Here's What Happened

RCM Technologies logo with Business Services background

Key Points

  • RCM Technologies' shares have surpassed their 200-day moving average, with the stock trading at $25.85 after reaching a high of $26.08 during the day.
  • Wall Street Zen upgraded RCM Technologies from a "buy" to a "strong-buy" rating following its latest trading performance.
  • The company reported $0.54 EPS for its last quarter, falling short of analysts' expectations, but achieved revenue of $84.47 million, exceeding estimates of $76.04 million.
  • MarketBeat previews the top five stocks to own by August 1st.
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Shares of RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $20.14 and traded as high as $26.08. RCM Technologies shares last traded at $25.85, with a volume of 16,383 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised RCM Technologies from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 9th.

Read Our Latest Report on RCMT

RCM Technologies Trading Down 1.1%

The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $191.29 million, a P/E ratio of 14.94 and a beta of 0.27. The business has a 50 day moving average price of $23.87 and a 200 day moving average price of $20.14.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The business services provider reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.04). RCM Technologies had a net margin of 4.66% and a return on equity of 42.85%. The company had revenue of $84.47 million during the quarter, compared to the consensus estimate of $76.04 million.

Institutional Trading of RCM Technologies

A number of large investors have recently bought and sold shares of the business. Ancora Advisors LLC increased its stake in RCM Technologies by 72.4% during the 1st quarter. Ancora Advisors LLC now owns 168,125 shares of the business services provider's stock worth $2,623,000 after purchasing an additional 70,628 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its stake in RCM Technologies by 30.4% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 156,994 shares of the business services provider's stock worth $2,449,000 after purchasing an additional 36,608 shares in the last quarter. Punch & Associates Investment Management Inc. bought a new stake in RCM Technologies during the 1st quarter worth approximately $1,170,000. Two Sigma Investments LP increased its stake in RCM Technologies by 10.0% during the 4th quarter. Two Sigma Investments LP now owns 58,228 shares of the business services provider's stock worth $1,290,000 after purchasing an additional 5,304 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in RCM Technologies during the 4th quarter worth approximately $840,000. 43.20% of the stock is owned by institutional investors.

RCM Technologies Company Profile

(Get Free Report)

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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