RCM Technologies (NASDAQ:RCMT) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

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.

RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report)'s stock price crossed 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.

Analyst Upgrades and Downgrades

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

RCM Technologies Stock Up 1.4%

The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.62 and a current ratio of 1.62. The firm's 50-day simple moving average is $23.92 and its 200 day simple moving average is $20.18. The stock has a market capitalization of $191.88 million, a P/E ratio of 14.99 and a beta of 0.27.

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

Institutional Investors Weigh In On RCM Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Ritholtz Wealth Management raised its holdings in shares of RCM Technologies by 26.0% in the 2nd quarter. Ritholtz Wealth Management now owns 14,300 shares of the business services provider's stock valued at $337,000 after purchasing an additional 2,948 shares during the period. Significant Wealth Partners LLC raised its holdings in shares of RCM Technologies by 22.3% in the 2nd quarter. Significant Wealth Partners LLC now owns 12,546 shares of the business services provider's stock valued at $296,000 after purchasing an additional 2,284 shares during the period. Jane Street Group LLC raised its holdings in shares of RCM Technologies by 41.2% in the 1st quarter. Jane Street Group LLC now owns 23,489 shares of the business services provider's stock valued at $366,000 after purchasing an additional 6,852 shares during the period. Punch & Associates Investment Management Inc. bought a new stake in shares of RCM Technologies in the 1st quarter valued at about $1,170,000. Finally, Ancora Advisors LLC raised its holdings in shares of RCM Technologies by 72.4% in the 1st quarter. Ancora Advisors LLC now owns 168,125 shares of the business services provider's stock valued at $2,623,000 after purchasing an additional 70,628 shares during the period. 43.20% of the stock is owned by institutional investors.

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.