RCM Technologies (NASDAQ:RCMT) Share Price Passes Below Two Hundred Day Moving Average – Time to Sell?

RCM Technologies, Inc. (NASDAQ:RCMT)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $21.72 and traded as low as $21.33. RCM Technologies shares last traded at $21.70, with a volume of 64,861 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Benchmark upped their price objective 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. Zacks Research raised shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Wall Street Zen downgraded shares of RCM Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of RCM Technologies in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $36.00.

RCM Technologies Trading Down 0.6%

The stock has a market capitalization of $153.85 million, a P/E ratio of 10.24 and a beta of 0.46. The firm’s 50 day moving average price is $25.29 and its 200 day moving average price is $21.72. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.92 and a quick ratio of 1.92.

RCM Technologies (NASDAQ:RCMT) last issued its quarterly earnings data on Friday, April 3rd. The business services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.58 by $0.22. The firm had revenue of $86.48 million during the quarter, compared to the consensus estimate of $84.46 million. RCM Technologies had a net margin of 5.03% and a return on equity of 37.76%. As a group, equities research analysts expect that RCM Technologies, Inc. will post 2.4 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Bradley Vizi sold 13,666 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $27.55, for a total transaction of $376,498.30. Following the transaction, the chairman owned 1,497,477 shares in the company, valued at $41,255,491.35. The trade was a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin D. Miller sold 4,734 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $32.00, for a total transaction of $151,488.00. Following the transaction, the chief financial officer owned 439,066 shares in the company, valued at $14,050,112. This represents a 1.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 36,437 shares of company stock worth $1,068,434 in the last quarter. 28.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RCM Technologies

Several hedge funds and other institutional investors have recently modified their holdings of RCMT. Jane Street Group LLC increased its position in shares of RCM Technologies by 41.2% during the first quarter. Jane Street Group LLC now owns 23,489 shares of the business services provider’s stock valued at $366,000 after buying an additional 6,852 shares during the period. Geode Capital Management LLC increased its position in shares of RCM Technologies by 78.9% during the second quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider’s stock valued at $2,838,000 after buying an additional 53,094 shares during the period. JPMorgan Chase & Co. increased its position in shares of RCM Technologies by 1,241.0% during the second quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock valued at $55,000 after buying an additional 2,147 shares during the period. Russell Investments Group Ltd. increased its position in shares of RCM Technologies by 264.4% during the second quarter. Russell Investments Group Ltd. now owns 49,386 shares of the business services provider’s stock valued at $1,164,000 after buying an additional 35,835 shares during the period. Finally, New York State Common Retirement Fund purchased a new position in shares of RCM Technologies during the second quarter valued at about $101,000. Hedge funds and other institutional investors own 43.20% of the company’s stock.

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.