RCM Technologies, Inc. (NASDAQ:RCMT) Short Interest Down 15.4% in October

RCM Technologies, Inc. (NASDAQ:RCMT) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 119,100 shares, a decline of 15.4% from the September 30th total of 140,800 shares. Currently, 2.3% of the company’s shares are short sold. Based on an average daily trading volume, of 30,900 shares, the days-to-cover ratio is presently 3.9 days.

Hedge Funds Weigh In On RCM Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCMT. Acadian Asset Management LLC grew its stake in RCM Technologies by 466.4% during the 1st quarter. Acadian Asset Management LLC now owns 59,930 shares of the business services provider’s stock valued at $1,279,000 after purchasing an additional 49,350 shares in the last quarter. Panagora Asset Management Inc. bought a new position in RCM Technologies during the 2nd quarter valued at $458,000. Marshall Wace LLP grew its holdings in RCM Technologies by 174.0% during the 2nd quarter. Marshall Wace LLP now owns 38,392 shares of the business services provider’s stock worth $719,000 after acquiring an additional 24,380 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of RCM Technologies in the 3rd quarter valued at about $315,000. Finally, Truvestments Capital LLC lifted its position in shares of RCM Technologies by 79.3% during the first quarter. Truvestments Capital LLC now owns 28,906 shares of the business services provider’s stock worth $618,000 after purchasing an additional 12,788 shares during the last quarter. 43.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Benchmark reissued a “buy” rating and set a $33.00 price objective on shares of RCM Technologies in a research note on Tuesday, August 13th.

RCM Technologies Trading Up 1.5 %

RCM Technologies stock traded up $0.33 during trading on Wednesday, hitting $22.19. The company’s stock had a trading volume of 50,184 shares, compared to its average volume of 59,560. The stock’s fifty day moving average is $20.31 and its 200 day moving average is $19.78. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.48 and a current ratio of 1.48. RCM Technologies has a 1-year low of $17.11 and a 1-year high of $32.15. The stock has a market capitalization of $169.31 million, a price-to-earnings ratio of 10.77 and a beta of 0.64.

RCM Technologies (NASDAQ:RCMT) last released its earnings results on Wednesday, August 7th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). RCM Technologies had a return on equity of 67.39% and a net margin of 6.19%. The company had revenue of $69.16 million during the quarter, compared to analyst estimates of $69.90 million. During the same period in the prior year, the business posted $0.47 earnings per share. As a group, equities research analysts predict that RCM Technologies will post 2.06 EPS for the current year.

RCM Technologies Company Profile

RCM Technologies, Inc provides business and technology solutions in the United States, Canada, Puerto Rico, and Europe. It operates through three segments: Engineering, Specialty Health Care, and Life Sciences and Information Technology. The Engineering segment offers a range of engineering services, including project management engineering and design, engineering analysis, engineer-procure-construct, configuration management, hardware/software validation and verification, quality assurance, technical writing and publications, manufacturing process planning and improvement, and 3D/BIM integrated design.