RCM Technologies (NASDAQ:RCMT) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• RCM Technologies' stock has recently crossed above its 200-day moving average, currently trading at $26.82, up from its average of $21.94.
• Institutional ownership of RCM Technologies stands at 43.20%, with recent investments from firms like BNP Paribas and JPMorgan Chase significantly increasing their stakes.
• The company's insider transactions include a sale of 5,000 shares by insider Michael Saks, decreasing his position by 4.37%, indicating potential insider confidence shifts.

RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.94 and traded as high as $27.32. RCM Technologies shares last traded at $26.82, with a volume of 17,815 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of RCM Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Strong Buy" and a consensus price target of $33.50.

RCM Technologies Stock Performance

The firm has a market cap of $198.74 million, a P/E ratio of 15.24 and a beta of 0.27. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.92. The business's fifty day simple moving average is $25.62 and its 200-day simple moving average is $21.94.

Insiders Place Their Bets

In other RCM Technologies news, insider Michael Saks sold 5,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $27.50, for a total value of $137,500.00. Following the sale, the insider owned 109,547 shares of the company's stock, valued at $3,012,542.50. This trade represents a 4.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Bradley Vizi sold 3,825 shares of the firm's stock in a transaction on Friday, September 19th. The stock was sold at an average price of $27.50, for a total transaction of $105,187.50. Following the completion of the sale, the chairman directly owned 1,512,591 shares in the company, valued at approximately $41,596,252.50. This trade represents a 0.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 31,649 shares of company stock worth $870,508. Insiders own 26.40% of the company's stock.

Institutional Investors Weigh In On RCM Technologies

Large investors have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of RCM Technologies during the 2nd quarter valued at about $29,000. BNP Paribas Financial Markets boosted its stake in shares of RCM Technologies by 44.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider's stock valued at $45,000 after purchasing an additional 579 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of RCM Technologies by 1,241.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider's stock valued at $55,000 after purchasing an additional 2,147 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of RCM Technologies during the 2nd quarter valued at about $77,000. Finally, New York State Common Retirement Fund bought a new stake in shares of RCM Technologies during the 2nd quarter valued at about $101,000. Institutional investors own 43.20% of the company's stock.

About RCM Technologies

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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