RCM Technologies (NASDAQ:RCMT) Shares Cross Above 200-Day Moving Average – Here’s What Happened

RCM Technologies, Inc. (NASDAQ:RCMT)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.79 and traded as high as $29.16. RCM Technologies shares last traded at $28.50, with a volume of 34,812 shares trading hands.

Analysts Set New Price Targets

RCMT has been the topic of several research analyst reports. Wall Street Zen raised RCM Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RCM Technologies in a research report on Friday, July 17th. Zacks Research cut RCM Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Finally, Benchmark raised their price target on RCM Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.00.

RCM Technologies Price Performance

The firm’s 50-day moving average price is $26.22 and its two-hundred day moving average price is $23.85. The stock has a market cap of $200.58 million, a PE ratio of 13.34 and a beta of 0.29. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.65.

Institutional Trading of RCM Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC increased its holdings in shares of RCM Technologies by 41.2% in the 1st quarter. Jane Street Group LLC now owns 23,489 shares of the business services provider’s stock valued at $366,000 after acquiring an additional 6,852 shares during the period. Geode Capital Management LLC lifted its stake in shares of RCM Technologies by 78.9% during the 2nd quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider’s stock worth $2,838,000 after purchasing an additional 53,094 shares during the last quarter. JPMorgan Chase & Co. boosted its position in 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 purchasing an additional 2,147 shares in the last quarter. Russell Investments Group Ltd. boosted its position in 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 purchasing an additional 35,835 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new position in RCM Technologies in the second quarter valued at about $101,000. Institutional investors own 43.20% of the company’s stock.

RCM Technologies Company Profile

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.