RCM Technologies (NASDAQ:RCMT) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of RCM Technologies (NASDAQ:RCMT) from a buy rating to a hold rating in a research report released on Monday morning.

Several other research analysts have also recently issued reports on RCMT. B. Riley upped their target price on shares of RCM Technologies from $35.00 to $37.00 and gave the company a “buy” rating in a report on Monday. Benchmark raised their price objective on RCM Technologies from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday.

RCM Technologies Stock Performance

Shares of RCMT opened at $22.63 on Monday. The company has a market capitalization of $171.99 million, a price-to-earnings ratio of 11.61 and a beta of 0.63. RCM Technologies has a 52-week low of $17.11 and a 52-week high of $32.15. The company has a quick ratio of 1.48, a current ratio of 1.63 and a debt-to-equity ratio of 1.06. The stock has a 50 day moving average price of $21.06 and a 200 day moving average price of $20.10.

Hedge Funds Weigh In On RCM Technologies

A number of institutional investors have recently modified their holdings of RCMT. BNP Paribas Financial Markets purchased a new position in RCM Technologies during the 3rd quarter worth $48,000. Klein Pavlis & Peasley Financial Inc. grew its holdings in shares of RCM Technologies by 19.9% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,208 shares of the business services provider’s stock worth $247,000 after buying an additional 2,191 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in RCM Technologies during the 3rd quarter valued at approximately $315,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in RCM Technologies during the 3rd quarter worth approximately $425,000. Finally, Panagora Asset Management Inc. purchased a new position in shares of RCM Technologies in the 2nd quarter valued at approximately $458,000. 43.20% of the stock is owned by institutional investors and hedge funds.

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.