RCM Technologies, Inc. (NASDAQ:RCMT) Sees Significant Growth in Short Interest – MarketBeat
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
RCM Technologies, Inc. (NASDAQ:RCMT – Get Rating) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 332,900 shares, an increase of 35.0% from the October 31st total of 246,600 shares. Based on an average daily trading volume, of 115,900 shares, the short-interest ratio is presently 2.9 days. Currently, 4.4% of the company’s stock are short sold.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on RCMT. B. Riley upgraded RCM Technologies from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Monday, August 15th. StockNews.com downgraded RCM Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 11th. Finally, Benchmark boosted their target price on RCM Technologies to $30.00 in a report on Monday, August 15th.
RCM Technologies Price Performance
Shares of RCMT traded down $0.01 on Friday, hitting $14.84. The company’s stock had a trading volume of 814 shares, compared to its average volume of 120,869. The company has a 50 day moving average price of $16.38 and a 200 day moving average price of $18.33. RCM Technologies has a fifty-two week low of $5.22 and a fifty-two week high of $28.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 1.52. The company has a market capitalization of $146.03 million, a PE ratio of 7.21 and a beta of 0.80.
Insider Buying and Selling at RCM Technologies
In other RCM Technologies news, Director Roger H. Ballou sold 23,200 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $15.93, for a total transaction of $369,576.00. Following the transaction, the director now directly owns 159,382 shares in the company, valued at $2,538,955.26. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Roger H. Ballou sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $15.28, for a total transaction of $30,560.00. Following the transaction, the director now directly owns 123,892 shares in the company, valued at $1,893,069.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roger H. Ballou sold 23,200 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $15.93, for a total value of $369,576.00. Following the transaction, the director now owns 159,382 shares in the company, valued at $2,538,955.26. The disclosure for this sale can be found here. Insiders have sold a total of 62,233 shares of company stock worth $962,802 over the last three months. Corporate insiders own 23.60% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new position in RCM Technologies during the 3rd quarter worth $1,497,000. First Trust Advisors LP acquired a new position in RCM Technologies during the 3rd quarter worth $309,000. Royal Bank of Canada lifted its holdings in RCM Technologies by 6.0% during the 3rd quarter. Royal Bank of Canada now owns 14,000 shares of the business services provider’s stock worth $234,000 after buying an additional 798 shares in the last quarter. Hillsdale Investment Management Inc. lifted its holdings in RCM Technologies by 72.6% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 228,490 shares of the business services provider’s stock worth $3,814,000 after buying an additional 96,100 shares in the last quarter. Finally, Rutabaga Capital Management LLC MA lifted its holdings in RCM Technologies by 8.5% during the 3rd quarter. Rutabaga Capital Management LLC MA now owns 209,956 shares of the business services provider’s stock worth $3,504,000 after buying an additional 16,450 shares in the last quarter. Institutional investors and hedge funds own 38.92% of the company’s stock.
About RCM Technologies
(Get Rating)
RCM Technologies, Inc provides business and technology solutions in the United States, Canada, Puerto Rico, and Serbia. 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.
Read More
- Get a free copy of the StockNews.com research report on RCM Technologies (RCMT)
- Institutions Are Buying Ambarella, Should You?
- Can ZIM Defy Broad Downturn In The Container Shipping Industry?
- Ford Revving Up Production Of EV Power Units At U.K. Plant
- Are the Short Sellers Still Right About Mullen Automotive stock?
- La-Z-Boy Reclines To More Comfortable Levels
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.
Before you consider RCM Technologies, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and RCM Technologies wasn’t on the list.
While RCM Technologies currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Complete the form below to receive the latest headlines and analysts’ recommendations for your stocks with our free daily email newsletter:
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat’s trending stocks report.
Identify stocks that meet your criteria using seven unique stock screeners. See what’s happening in the market right now with MarketBeat’s real-time news feed. Export data to Excel for your own analysis.
As Featured By:
326 E 8th St #105, Sioux Falls, SD 57103
contact@marketbeat.com
(844) 978-6257
© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer.