RCM Technologies (NASDAQ:RCMT) Upgraded at Wall Street Zen

Key Points

• RCM Technologies (NASDAQ:RCMT) was upgraded from a "buy" rating to a "strong-buy" rating by analysts at Wall Street Zen.
• The stock has an average target price of $33.50 and a current market price of $25.22, with a recent trading volume exceeding the average.
• Insider selling activity has been noted, with Chairman Bradley Vizi and another insider selling shares in recent transactions, contributing to a decrease in their ownership percentages.

RCM Technologies (NASDAQ:RCMT - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Friday.

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of RCM Technologies in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, RCM Technologies has an average rating of "Buy" and an average target price of $33.50.

RCM Technologies Stock Performance

Shares of NASDAQ:RCMT traded up $0.38 during trading on Friday, hitting $25.22. 45,008 shares of the company were exchanged, compared to its average volume of 33,095. The company has a market cap of $186.88 million, a PE ratio of 14.33 and a beta of 0.18. The stock has a 50 day moving average of $25.73 and a 200 day moving average of $22.43. RCM Technologies has a 52-week low of $13.18 and a 52-week high of $28.27. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.85 and a quick ratio of 1.85.

Insider Buying and Selling at RCM Technologies

In related news, Chairman Bradley Vizi sold 1,165 shares of the firm's 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 transaction, the chairman directly owned 1,511,426 shares of the company's stock, valued at approximately $41,564,215. This trade represents a 0.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael Saks sold 5,000 shares of RCM Technologies stock in a transaction that occurred 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 transaction, the insider directly owned 109,547 shares in the company, valued at $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. In the last 90 days, insiders have sold 33,067 shares of company stock worth $909,503. Corporate insiders own 26.40% of the company's stock.

Hedge Funds Weigh In On RCM Technologies

Large investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC purchased a new position in shares of RCM Technologies in the second quarter worth about $77,000. BNP Paribas Financial Markets increased its stake 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 worth $45,000 after purchasing an additional 579 shares during the period. Raymond James Financial Inc. purchased a new position in RCM Technologies in the 2nd quarter worth approximately $107,000. Ballast Asset Management LP increased its stake in RCM Technologies by 1.0% in the 2nd quarter. Ballast Asset Management LP now owns 138,511 shares of the business services provider's stock worth $3,265,000 after purchasing an additional 1,346 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in RCM Technologies by 31.8% in the 2nd quarter. Panagora Asset Management Inc. now owns 31,647 shares of the business services provider's stock worth $746,000 after purchasing an additional 7,631 shares during the period. Hedge funds and other 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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