RCM Technologies, Inc. (NASDAQ:RCMT – Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $23.46 and traded as high as $27.89. RCM Technologies shares last traded at $27.71, with a volume of 24,511 shares.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on RCMT shares. Benchmark lifted their price target on shares of RCM Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. Wall Street Zen upgraded RCM Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of RCM Technologies in a research note on Friday, July 17th. Finally, Zacks Research cut RCM Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $36.00.
Check Out Our Latest Stock Analysis on RCM Technologies
RCM Technologies Price Performance
Insider Buying and Selling at RCM Technologies
In other news, CFO Kevin D. Miller sold 4,734 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $32.00, for a total transaction of $151,488.00. Following the completion of the transaction, the chief financial officer directly owned 439,066 shares of the company’s stock, 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 SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 28.00% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On RCM Technologies
Several hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC raised its holdings in shares of RCM Technologies by 41.2% in the first quarter. Jane Street Group LLC now owns 23,489 shares of the business services provider’s stock worth $366,000 after acquiring an additional 6,852 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of RCM Technologies by 78.9% during the second quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider’s stock valued at $2,838,000 after acquiring an additional 53,094 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of 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 acquiring an additional 2,147 shares during the last quarter. Russell Investments Group Ltd. increased its position in RCM Technologies by 264.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 49,386 shares of the business services provider’s stock worth $1,164,000 after purchasing an additional 35,835 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in RCM Technologies during the 2nd quarter worth about $101,000. Hedge funds and other institutional investors own 43.20% of the company’s stock.
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.
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