Key Points
- CFO Kevin Miller sold 1,483 shares on April 22 at an average price of $32.00 for $47,456, executing the trade under a pre-arranged Rule 10b5-1 plan and reducing his stake by 0.33% to 446,732 shares.
- Analyst and market outlook: RCMT has a $221.97M market cap and 14.78 PE, trades near its one-year high, and recently saw multiple upgrades that lifted the consensus to a “Buy” with a $36.00 price target.
RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) CFO Kevin Miller sold 1,483 shares of RCM Technologies stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $32.00, for a total transaction of $47,456.00. Following the sale, the chief financial officer owned 446,732 shares of the company's stock, valued at approximately $14,295,424. The trade was a 0.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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.
RCM Technologies Price Performance
RCMT stock opened at $31.62 on Friday. The firm has a 50 day simple moving average of $22.14 and a two-hundred day simple moving average of $21.22. The stock has a market cap of $221.97 million, a PE ratio of 14.78 and a beta of -0.01. RCM Technologies, Inc. has a one year low of $16.51 and a one year high of $32.28. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.85 and a quick ratio of 1.85.
Institutional Investors Weigh In On RCM Technologies
A number of hedge funds have recently made changes to their positions in the business. Ellsworth Advisors LLC purchased a new position in RCM Technologies in the 3rd quarter worth $780,000. LSV Asset Management lifted its stake in RCM Technologies by 95.7% in the third quarter. LSV Asset Management now owns 67,575 shares of the business services provider's stock worth $1,794,000 after purchasing an additional 33,045 shares during the last quarter. Ritholtz Wealth Management boosted its position in RCM Technologies by 189.4% during the third quarter. Ritholtz Wealth Management now owns 41,391 shares of the business services provider's stock valued at $1,099,000 after buying an additional 27,091 shares during the period. SummerHaven Investment Management LLC purchased a new stake in RCM Technologies during the third quarter valued at about $899,000. Finally, Ballast Asset Management LP grew its stake in shares of RCM Technologies by 1.0% during the third quarter. Ballast Asset Management LP now owns 139,859 shares of the business services provider's stock valued at $3,713,000 after buying an additional 1,348 shares during the last quarter. 43.20% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
RCMT has been the subject of several research reports. Benchmark upped their target price on shares of RCM Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, April 8th. Wall Street Zen upgraded RCM Technologies from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 11th. Zacks Research raised RCM Technologies from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 13th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of RCM Technologies in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $36.00.
Get Our Latest Analysis on RCMT
RCM Technologies Company Profile
(
Get Free Report)
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.
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