RCM Technologies (NASDAQ:RCMT) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of RCM Technologies (NASDAQ:RCMT) from a buy rating to a hold rating in a research note published on Saturday.

A number of other research analysts have also recently commented on RCMT. Zacks Research cut RCM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Weiss Ratings restated a “hold (c+)” rating on shares of RCM Technologies in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $36.00.

RCM Technologies Stock Performance

Shares of RCM Technologies stock opened at $29.38 on Friday. RCM Technologies has a fifty-two week low of $17.26 and a fifty-two week high of $32.50. 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 capitalization of $208.30 million, a P/E ratio of 13.86 and a beta of 0.29. The company’s 50 day moving average price is $27.07 and its two-hundred day moving average price is $24.18.

Institutional Investors Weigh In On RCM Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Punch & Associates Investment Management Inc. increased its holdings in RCM Technologies by 40.0% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider’s stock worth $2,782,000 after purchasing an additional 38,872 shares in the last quarter. Pacific Ridge Capital Partners LLC lifted its stake in RCM Technologies by 40.7% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 258,231 shares of the business services provider’s stock valued at $5,280,000 after buying an additional 74,760 shares during the period. Meros Investment Management LP boosted its holdings in shares of RCM Technologies by 69.0% during the 4th quarter. Meros Investment Management LP now owns 65,951 shares of the business services provider’s stock worth $1,348,000 after buying an additional 26,924 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of RCM Technologies by 209.9% during the 1st quarter. Sei Investments Co. now owns 126,872 shares of the business services provider’s stock worth $2,428,000 after buying an additional 85,936 shares in the last quarter. Finally, WNY Asset Management LLC acquired a new stake in shares of RCM Technologies during the 1st quarter worth approximately $383,000. 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.