RCM Technologies (NASDAQ:RCMT) Upgraded by Wall Street Zen to “Strong-Buy” Rating
by Doug Wharley · The Cerbat GemWall Street Zen upgraded shares of RCM Technologies (NASDAQ:RCMT – Free Report) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.
Several other research analysts have also recently issued reports on the company. Zacks Research raised RCM Technologies from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of RCM Technologies in a report on Friday, March 27th. Finally, Benchmark increased their price objective on RCM Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, RCM Technologies presently has an average rating of “Hold” and a consensus target price of $36.00.
Check Out Our Latest Research Report on RCM Technologies
RCM Technologies Stock Down 3.5%
Shares of NASDAQ:RCMT opened at $26.93 on Friday. RCM Technologies has a 52-week low of $15.29 and a 52-week high of $28.50. The stock has a market cap of $189.05 million, a P/E ratio of 12.58 and a beta of -0.01. The business’s 50 day moving average is $19.87 and its 200 day moving average is $20.87. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.78.
Insider Transactions at RCM Technologies
In related news, Chairman Bradley Vizi sold 13,666 shares of the firm’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $27.55, for a total value of $376,498.30. Following the completion of the transaction, the chairman owned 1,497,477 shares in the company, valued at $41,255,491.35. This trade represents a 0.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 28.00% of the stock is owned by company insiders.
Hedge Funds Weigh In On RCM Technologies
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd grew its position in RCM Technologies by 5.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 11,187 shares of the business services provider’s stock worth $297,000 after purchasing an additional 576 shares during the period. BNP Paribas Financial Markets grew its position in 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 worth $45,000 after purchasing an additional 579 shares during the period. Bank of America Corp DE grew its position in RCM Technologies by 28.1% during the 3rd quarter. Bank of America Corp DE now owns 4,166 shares of the business services provider’s stock worth $111,000 after purchasing an additional 915 shares during the period. Ritholtz Wealth Management grew its position in RCM Technologies by 3.2% during the 4th quarter. Ritholtz Wealth Management now owns 42,724 shares of the business services provider’s stock worth $873,000 after purchasing an additional 1,333 shares during the period. Finally, Ballast Asset Management LP grew its position in RCM Technologies by 1.0% during the 3rd quarter. Ballast Asset Management LP now owns 139,859 shares of the business services provider’s stock worth $3,713,000 after purchasing an additional 1,348 shares during the period. Hedge funds and other institutional investors own 43.20% of the company’s stock.
RCM Technologies Company Profile
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.