RCM Technologies (NASDAQ:RCMT) Stock Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• RCM Technologies shares moved above their 200-day moving average, trading as high as $28.66 before last changing hands at $27.51. The stock’s 200-day average was $23.15, signaling a recent technical breakout.
• Analyst sentiment is mixed, with one Buy rating and two Hold ratings, while the average price target is $36.00. Benchmark remains bullish, raising its target from $32 to $36 and keeping a Buy rating.
• The company has seen recent insider selling and continued institutional activity. CFO Kevin D. Miller sold 4,734 shares in a pre-arranged plan, while institutional ownership stands at 43.2%.

RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.15 and traded as high as $28.66. RCM Technologies shares last traded at $27.51, with a volume of 69,120 shares changing hands.

Analysts Set New Price Targets

RCMT has been the topic of several research analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of RCM Technologies in a research note on Friday, March 27th. Wall Street Zen raised shares of RCM Technologies from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Benchmark boosted their target price on shares of RCM Technologies from $32.00 to $36.00 and gave the company a "buy" rating in a research note on Wednesday, April 8th. Finally, Zacks Research cut shares of RCM Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $36.00.

RCM Technologies Stock Down 1.7%

The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.65. The firm's 50-day moving average price is $25.94 and its 200 day moving average price is $23.15. The firm has a market cap of $195.05 million, a P/E ratio of 12.98 and a beta of 0.29.

Insider Activity at RCM Technologies

In other news, CFO Kevin D. Miller sold 4,734 shares of RCM Technologies stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $32.00, for a total transaction of $151,488.00. Following the sale, the chief financial officer owned 439,066 shares of the company's stock, valued at approximately $14,050,112. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,534 shares of company stock valued at $465,253 in the last quarter. 28.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RCM Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position in RCM Technologies by 44.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider's stock valued at $45,000 after acquiring an additional 579 shares during the period. JPMorgan Chase & Co. boosted its position in 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 worth $55,000 after acquiring an additional 2,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in RCM Technologies during the 3rd quarter worth $60,000. Lazard Asset Management LLC acquired a new position in RCM Technologies during the 2nd quarter worth $77,000. Finally, New York State Common Retirement Fund bought a new position in shares of RCM Technologies in the second quarter worth $101,000. 43.20% of the stock is owned by institutional investors.

About RCM Technologies

RCM Technologies, Inc NASDAQ: RCMT is an information technology consulting firm that specializes in delivering secure, enterprise-level technology solutions. The company's core offerings include IT infrastructure design and integration, data center modernization, cloud migration and management, cybersecurity services, and digital collaboration platforms. RCM Technologies serves clients across federal and commercial markets, tailoring its services to meet the strict security and compliance requirements of government agencies as well as the performance and scalability needs of private-sector organizations.

Founded in the mid-1980s and headquartered in Dresher, Pennsylvania, RCM Technologies has built a reputation for end-to-end project delivery, from initial assessment and design through implementation and ongoing managed support.

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