33,851 Shares in RCM Technologies, Inc. $RCMT Acquired by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC bought a new position in shares of RCM Technologies, Inc. (NASDAQ:RCMT) in the third quarter, Holdings Channel reports. The firm bought 33,851 shares of the business services provider’s stock, valued at approximately $899,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ritholtz Wealth Management lifted its stake in shares of RCM Technologies by 189.4% in the third quarter. Ritholtz Wealth Management now owns 41,391 shares of the business services provider’s stock worth $1,099,000 after buying an additional 27,091 shares during the last quarter. Ellsworth Advisors LLC acquired a new position in RCM Technologies in the 3rd quarter valued at $780,000. Exchange Traded Concepts LLC bought a new position in RCM Technologies in the 3rd quarter worth $267,000. Lazard Asset Management LLC acquired a new position in RCM Technologies during the 2nd quarter worth $77,000. Finally, BNP Paribas Financial Markets boosted its holdings in RCM Technologies by 44.1% during the second quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 579 shares during the period. Institutional investors and hedge funds own 43.20% of the company’s stock.

RCM Technologies Stock Performance

Shares of NASDAQ RCMT opened at $20.00 on Wednesday. The firm has a market capitalization of $148.20 million, a price-to-earnings ratio of 11.70 and a beta of -0.07. RCM Technologies, Inc. has a one year low of $13.18 and a one year high of $28.27. The business has a fifty day simple moving average of $20.14 and a 200 day simple moving average of $22.96. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.78.

RCM Technologies (NASDAQ:RCMT) last posted its quarterly earnings results on Wednesday, November 5th. The business services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The business had revenue of $70.29 million for the quarter, compared to analyst estimates of $67.34 million. RCM Technologies had a return on equity of 35.58% and a net margin of 4.23%.

Analyst Upgrades and Downgrades

RCMT has been the topic of a number of recent analyst reports. Zacks Research upgraded RCM Technologies from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Wall Street Zen downgraded RCM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of RCM Technologies in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

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.