RCM Technologies (NASDAQ:RCMT) Rating Lowered to Hold at Wall Street Zen

RCM Technologies (NASDAQ:RCMT) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other equities research analysts also recently weighed in on RCMT. Zacks Research downgraded RCM Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RCM Technologies in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $36.00.

RCM Technologies Stock Performance

Shares of NASDAQ:RCMT opened at $29.38 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.65. RCM Technologies has a 12 month low of $17.26 and a 12 month high of $32.50. The company has a market capitalization of $208.30 million, a price-to-earnings ratio of 13.86 and a beta of 0.29. The firm’s 50-day moving average is $27.07 and its 200 day moving average is $24.21.

Hedge Funds Weigh In On RCM Technologies

A number of hedge funds have recently added to or reduced their stakes in RCMT. Renaissance Technologies LLC raised its stake in shares of RCM Technologies by 3.6% during the first quarter. Renaissance Technologies LLC now owns 434,877 shares of the business services provider’s stock valued at $8,324,000 after acquiring an additional 15,304 shares in the last quarter. Vanguard Group Inc. increased its holdings in RCM Technologies by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 279,889 shares of the business services provider’s stock worth $7,431,000 after purchasing an additional 8,532 shares during the period. Pacific Ridge Capital Partners LLC increased its holdings in RCM Technologies by 40.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 258,231 shares of the business services provider’s stock worth $5,280,000 after purchasing an additional 74,760 shares during the period. Dimensional Fund Advisors LP raised its position in RCM Technologies by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 169,945 shares of the business services provider’s stock valued at $3,253,000 after purchasing an additional 1,774 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. lifted its holdings in shares of RCM Technologies by 12.8% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 153,511 shares of the business services provider’s stock worth $2,938,000 after buying an additional 17,433 shares during the period. 43.20% of the stock is currently 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.