Short Interest in RCM Technologies, Inc. (NASDAQ:RCMT) Decreases By 23.1%

RCM Technologies, Inc. (NASDAQ:RCMT) saw a significant drop in short interest in April. As of April 15th, there was short interest totalling 209,100 shares, a drop of 23.1% from the March 31st total of 272,000 shares. Approximately 4.1% of the company’s stock are short sold. Based on an average trading volume of 91,600 shares, the short-interest ratio is currently 2.3 days.

Hedge Funds Weigh In On RCM Technologies

Large investors have recently bought and sold shares of the business. Kent Lake Capital LLC boosted its position in shares of RCM Technologies by 20.7% during the third quarter. Kent Lake Capital LLC now owns 123,369 shares of the business services provider’s stock worth $2,411,000 after buying an additional 21,158 shares during the period. LSV Asset Management boosted its position in shares of RCM Technologies by 40.8% during the third quarter. LSV Asset Management now owns 67,300 shares of the business services provider’s stock worth $1,315,000 after buying an additional 19,500 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of RCM Technologies by 18.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 63,831 shares of the business services provider’s stock worth $1,247,000 after buying an additional 10,019 shares during the period. Ballast Asset Management LP acquired a new position in shares of RCM Technologies during the third quarter worth approximately $1,056,000. Finally, Bank of New York Mellon Corp boosted its position in shares of RCM Technologies by 8.3% during the third quarter. Bank of New York Mellon Corp now owns 31,712 shares of the business services provider’s stock worth $620,000 after buying an additional 2,419 shares during the period. Institutional investors own 43.20% of the company’s stock.

RCM Technologies Stock Performance

NASDAQ RCMT traded up $0.06 during trading hours on Friday, reaching $18.97. The company’s stock had a trading volume of 76,074 shares, compared to its average volume of 71,846. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.19. The business has a 50-day simple moving average of $23.27 and a 200 day simple moving average of $25.11. RCM Technologies has a 52 week low of $11.14 and a 52 week high of $32.15. The stock has a market cap of $150.62 million, a PE ratio of 9.53 and a beta of 0.73.

RCM Technologies (NASDAQ:RCMT) last issued its earnings results on Wednesday, March 13th. The business services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. RCM Technologies had a net margin of 6.39% and a return on equity of 71.41%. The firm had revenue of $71.03 million for the quarter, compared to analysts’ expectations of $72.47 million. Equities research analysts predict that RCM Technologies will post 2.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded RCM Technologies from a “hold” rating to a “buy” rating in a research note on Friday, April 12th.

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.