RCM Technologies, Inc. (NASDAQ:RCMT) Sees Large Drop in Short Interest

RCM Technologies, Inc. (NASDAQ:RCMT) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 110,200 shares, a drop of 16.3% from the October 31st total of 131,600 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 39,000 shares, the days-to-cover ratio is currently 2.8 days.

RCM Technologies Stock Down 1.1 %

Shares of NASDAQ RCMT opened at $22.88 on Friday. The stock has a market capitalization of $173.89 million, a P/E ratio of 11.73 and a beta of 0.63. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.63 and a quick ratio of 1.63. RCM Technologies has a one year low of $17.11 and a one year high of $32.15. The firm’s 50 day simple moving average is $21.79 and its two-hundred day simple moving average is $20.32.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RCMT shares. Benchmark boosted their price target on shares of RCM Technologies from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. StockNews.com lowered shares of RCM Technologies from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, B. Riley lifted their price target on RCM Technologies from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, November 11th.

Hedge Funds Weigh In On RCM Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP boosted its position in RCM Technologies by 174.0% during the second quarter. Marshall Wace LLP now owns 38,392 shares of the business services provider’s stock valued at $719,000 after buying an additional 24,380 shares during the period. Panagora Asset Management Inc. bought a new stake in shares of RCM Technologies in the 2nd quarter valued at about $458,000. Exchange Traded Concepts LLC purchased a new stake in RCM Technologies during the 3rd quarter valued at about $315,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in RCM Technologies during the 3rd quarter worth approximately $425,000. Finally, Klein Pavlis & Peasley Financial Inc. increased its stake in RCM Technologies by 19.9% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,208 shares of the business services provider’s stock worth $247,000 after purchasing an additional 2,191 shares during the period. 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.