RCM Technologies (NASDAQ:RCMT) Shares Cross Below Two Hundred Day Moving Average - What's Next?

Key Points

• RCM Technologies' share price fell below its 200-day moving average of $23.13, reaching a low of $22.69 during trading on Monday.
• The stock has a current consensus rating of Buy with a target price of $33.50, despite a recent downgrade from a "strong-buy" to "buy" by Wall Street Zen.
• Insider activity includes Chairman Bradley Vizi selling 1,165 shares and Michael Saks selling 5,000 shares, reflecting a trend of insiders reducing their holdings in the company.

RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report)'s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.13 and traded as low as $22.69. RCM Technologies shares last traded at $23.55, with a volume of 27,686 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wall Street Zen lowered RCM Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 11th. Weiss Ratings reissued a "hold (c)" rating on shares of RCM Technologies in a research note on Wednesday, October 8th. One equities research 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $33.50.

RCM Technologies Stock Performance

The company has a debt-to-equity ratio of 0.92, a current ratio of 1.85 and a quick ratio of 1.85. The company has a 50 day simple moving average of $25.66 and a 200-day simple moving average of $23.13. The stock has a market cap of $174.51 million, a P/E ratio of 13.38 and a beta of 0.18.

Insider Activity

In other RCM Technologies news, Chairman Bradley Vizi sold 1,165 shares of RCM Technologies stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $27.50, for a total transaction of $32,037.50. Following the completion of the sale, the chairman owned 1,511,426 shares of the company's stock, valued at $41,564,215. The trade was a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Saks sold 5,000 shares of RCM Technologies stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $27.50, for a total value of $137,500.00. Following the sale, the insider directly owned 109,547 shares of the company's stock, valued at approximately $3,012,542.50. This trade represents a 4.37% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,067 shares of company stock valued at $909,503. Corporate insiders own 26.40% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RCMT. Exchange Traded Concepts LLC purchased a new position in shares of RCM Technologies in the first quarter worth about $258,000. Significant Wealth Partners LLC purchased a new position in shares of RCM Technologies in the first quarter worth about $160,000. Pacific Ridge Capital Partners LLC increased its holdings in shares of RCM Technologies by 30.4% in the first quarter. Pacific Ridge Capital Partners LLC now owns 156,994 shares of the business services provider's stock worth $2,449,000 after buying an additional 36,608 shares during the period. Boston Partners increased its holdings in shares of RCM Technologies by 4.2% in the first quarter. Boston Partners now owns 25,521 shares of the business services provider's stock worth $398,000 after buying an additional 1,023 shares during the period. Finally, Ancora Advisors LLC increased its holdings in shares of RCM Technologies by 72.4% in the first quarter. Ancora Advisors LLC now owns 168,125 shares of the business services provider's stock worth $2,623,000 after buying an additional 70,628 shares during the period. Hedge funds and other institutional investors 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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