RCM Technologies, Inc. (NASDAQ:RCMT) Short Interest Down 21.1% in May

RCM Technologies, Inc. (NASDAQ:RCMT) saw a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 164,200 shares, a decrease of 21.1% from the May 15th total of 208,100 shares. Based on an average daily trading volume, of 90,500 shares, the days-to-cover ratio is presently 1.8 days. Currently, 3.2% of the shares of the stock are short sold.

RCM Technologies Price Performance

Shares of RCMT stock traded down $0.33 during trading hours on Friday, hitting $19.36. The company’s stock had a trading volume of 29,559 shares, compared to its average volume of 52,965. The business has a fifty day moving average of $19.99 and a 200-day moving average of $24.73. The stock has a market cap of $150.10 million, a price-to-earnings ratio of 9.40 and a beta of 0.70. RCM Technologies has a twelve month low of $14.40 and a twelve month high of $32.15. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.75.

RCM Technologies (NASDAQ:RCMT) last released its quarterly earnings results on Wednesday, May 8th. The business services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. The business had revenue of $71.94 million for the quarter, compared to analyst estimates of $72.27 million. RCM Technologies had a net margin of 6.32% and a return on equity of 74.07%. As a group, equities research analysts anticipate that RCM Technologies will post 2.05 EPS for the current year.

Hedge Funds Weigh In On RCM Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Citigroup Inc. purchased a new position in shares of RCM Technologies during the third quarter valued at approximately $372,000. Janney Montgomery Scott LLC lifted its stake in shares of RCM Technologies by 16.4% during the third quarter. Janney Montgomery Scott LLC now owns 26,058 shares of the business services provider’s stock valued at $509,000 after buying an additional 3,667 shares during the period. Barclays PLC purchased a new position in shares of RCM Technologies during the third quarter valued at approximately $99,000. Jump Financial LLC purchased a new position in shares of RCM Technologies during the fourth quarter valued at approximately $426,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of RCM Technologies during the fourth quarter valued at approximately $250,000. Hedge funds and other institutional investors own 43.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RCMT. Benchmark restated a “buy” rating and set a $33.00 target price on shares of RCM Technologies in a research report on Wednesday, May 15th. StockNews.com upgraded shares of RCM Technologies from a “hold” rating to a “buy” rating in a research report on Friday, April 12th.

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.