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

Key Points

• RCM Technologies' stock price surpassed its 200-day moving average of $21.59, reaching a high of $27.32 before trading at $26.56.
• Analysts have recently downgraded RCM Technologies from a "strong-buy" to a "buy" rating, but the consensus rating remains a strong buy, with a target price of $33.50.
• Insiders sold a total of 22,393 shares of RCM Technologies worth approximately $615,940 over the last ninety days, with significant sales occurring on August 26th.

Shares of RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $21.59 and traded as high as $27.32. RCM Technologies shares last traded at $26.56, with a volume of 23,241 shares.

Wall Street Analyst Weigh In

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 analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat.com, RCM Technologies currently has a consensus rating of "Strong Buy" and a consensus target price of $33.50.

RCM Technologies Trading Down 2.6%

The company has a market capitalization of $196.81 million, a PE ratio of 15.09 and a beta of 0.27. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.85 and a current ratio of 1.85. The business has a fifty day moving average price of $25.40 and a 200 day moving average price of $21.59.

Insider Buying and Selling

In related news, Chairman Bradley Vizi sold 7,289 shares of RCM Technologies stock in a transaction on Tuesday, August 26th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Saks sold 5,000 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $27.50, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,393 shares of company stock worth $615,940. 26.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RCM Technologies

Several institutional investors and hedge funds have recently modified their holdings of RCMT. Exchange Traded Concepts LLC acquired a new stake in shares of RCM Technologies in the first quarter valued at about $258,000. Jane Street Group LLC purchased a new position in RCM Technologies in the 4th quarter worth approximately $369,000. Significant Wealth Partners LLC acquired a new stake in RCM Technologies in the first quarter valued at approximately $160,000. Pacific Ridge Capital Partners LLC raised its stake in shares of RCM Technologies by 30.4% during 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 during the period. Finally, Punch & Associates Investment Management Inc. acquired a new position in shares of RCM Technologies during the first quarter worth $1,170,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.