RCM Technologies (NASDAQ:RCMT) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• RCM Technologies (NASDAQ:RCMT) has surpassed its 200-day moving average of $20.87, reaching a high of $28.27 before closing at $26.26.
• The stock has been upgraded to a "strong-buy" rating by Wall Street Zen, with an average price target of $33.50.
• Institutional investors have shown increased interest in RCM Technologies, with notable stakes being added by various firms during the second quarter.

RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $20.87 and traded as high as $28.27. RCM Technologies shares last traded at $26.26, with a volume of 118,486 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of RCM Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, RCM Technologies currently has a consensus rating of "Strong Buy" and an average price target of $33.50.

RCM Technologies Stock Down 0.3%

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 stock's 50-day moving average is $24.83 and its 200-day moving average is $21.01. The company has a market cap of $201.06 million, a price-to-earnings ratio of 15.41 and a beta of 0.24.

Insider Buying and Selling at RCM Technologies

In other RCM Technologies news, insider Michael Saks sold 5,000 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $27.50, for a total transaction of $137,500.00. Following the transaction, the insider owned 109,547 shares in the company, valued at approximately $3,012,542.50. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Bradley Vizi sold 7,289 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $27.51, for a total transaction of $200,520.39. Following the transaction, the chairman owned 1,531,951 shares in the company, valued at approximately $42,143,972.01. The trade was a 0.47% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 26.40% of the company's stock.

Hedge Funds Weigh In On RCM Technologies

Several institutional investors have recently added to or reduced their stakes in RCMT. Ancora Advisors LLC boosted its position in RCM Technologies by 72.4% during the first 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 during the period. Pacific Ridge Capital Partners LLC raised its stake in 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 valued at $2,449,000 after purchasing an additional 36,608 shares in the last quarter. Ballast Asset Management LP raised its stake in RCM Technologies by 1.0% in the second quarter. Ballast Asset Management LP now owns 138,511 shares of the business services provider's stock valued at $3,265,000 after purchasing an additional 1,346 shares in the last quarter. Geode Capital Management LLC raised its stake in RCM Technologies by 78.9% in the second quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider's stock valued at $2,838,000 after purchasing an additional 53,094 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. purchased a new position in shares of RCM Technologies during the first quarter worth approximately $1,170,000. 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.