RCM Technologies, Inc. (NASDAQ:RCMT) Sees Large Drop in Short Interest

RCM Technologies, Inc. (NASDAQ:RCMT) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 110,200 shares, a drop of 16.3% from the October 31st total of 131,600 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average trading volume of 39,000 shares, the days-to-cover ratio is currently 2.8 days.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Benchmark boosted their price objective on shares of RCM Technologies from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, November 11th. StockNews.com cut shares of RCM Technologies from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, B. Riley raised their price objective on shares of RCM Technologies from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, November 11th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RCMT. Sanctuary Advisors LLC bought a new stake in RCM Technologies during the third quarter worth about $265,000. Barclays PLC bought a new stake in shares of RCM Technologies in the 3rd quarter worth approximately $180,000. State Street Corp boosted its position in shares of RCM Technologies by 6.7% in the 3rd quarter. State Street Corp now owns 25,555 shares of the business services provider’s stock worth $518,000 after purchasing an additional 1,600 shares in the last quarter. BNP Paribas Financial Markets bought a new position in RCM Technologies during the 3rd quarter valued at approximately $48,000. Finally, Truvestments Capital LLC boosted its holdings in RCM Technologies by 2.2% in the third quarter. Truvestments Capital LLC now owns 35,148 shares of the business services provider’s stock worth $713,000 after acquiring an additional 772 shares in the last quarter. 43.20% of the stock is currently owned by institutional investors.

RCM Technologies Price Performance

RCMT opened at $22.88 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.06. The company has a market cap of $173.89 million, a price-to-earnings ratio of 11.73 and a beta of 0.63. The stock has a fifty day simple moving average of $21.79 and a two-hundred day simple moving average of $20.32. RCM Technologies has a 12-month low of $17.11 and a 12-month high of $32.15.

About RCM Technologies

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.