RCM Technologies (NASDAQ:RCMT) Stock Passes Above 200-Day Moving Average – Time to Sell?

RCM Technologies, Inc. (NASDAQ:RCMT) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $23.15 and traded as high as $28.66. RCM Technologies shares last traded at $27.51, with a volume of 69,120 shares.

Wall Street Analysts Forecast Growth

RCMT has been the subject of a number of research analyst reports. Zacks Research downgraded RCM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Weiss Ratings restated a “hold (c)” rating on shares of RCM Technologies in a research report on Friday, March 27th. Benchmark raised their target price 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. Finally, Wall Street Zen upgraded shares of RCM Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. One investment 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, the company has a consensus rating of “Hold” and a consensus target price of $36.00.

RCM Technologies Trading Down 0.3%

The stock has a 50 day moving average of $25.86 and a 200 day moving average of $23.20. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market cap of $194.14 million, a P/E ratio of 12.92 and a beta of 0.29.

Insider Activity at RCM Technologies

In related news, CFO Kevin D. Miller sold 4,734 shares of RCM Technologies stock in a transaction on Monday, April 27th. The shares were sold at an average price of $32.00, for a total value of $151,488.00. Following the transaction, the chief financial officer owned 439,066 shares in the company, valued at $14,050,112. This trade represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 14,534 shares of company stock worth $465,253. 28.00% of the stock is currently owned by company insiders.

Institutional Trading of RCM Technologies

Several institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its stake in shares of RCM Technologies by 44.1% during the second quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock valued at $45,000 after buying an additional 579 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of RCM Technologies in the 3rd quarter valued at about $60,000. JPMorgan Chase & Co. boosted its holdings in RCM Technologies by 1,241.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 2,147 shares during the period. Lazard Asset Management LLC purchased a new stake in RCM Technologies during the 2nd quarter valued at about $77,000. Finally, 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 acquiring an additional 915 shares during the last quarter. 43.20% of the stock is currently owned by hedge funds and other 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.