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

RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 119,100 shares, a drop of 15.4% from the September 30th total of 140,800 shares. Currently, 2.3% of the company's shares are sold short. Based on an average daily trading volume, of 30,900 shares, the short-interest ratio is presently 3.9 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC lifted its position in shares of RCM Technologies by 466.4% during the 1st quarter. Acadian Asset Management LLC now owns 59,930 shares of the business services provider's stock valued at $1,279,000 after acquiring an additional 49,350 shares during the period. Marshall Wace LLP lifted its position in shares of RCM Technologies by 174.0% during the 2nd quarter. Marshall Wace LLP now owns 38,392 shares of the business services provider's stock valued at $719,000 after acquiring an additional 24,380 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of RCM Technologies by 8.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 33,979 shares of the business services provider's stock valued at $726,000 after acquiring an additional 2,737 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of RCM Technologies by 13.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 73,506 shares of the business services provider's stock valued at $1,571,000 after acquiring an additional 8,513 shares during the period. Finally, Panagora Asset Management Inc. bought a new stake in RCM Technologies during the 2nd quarter valued at $458,000. Institutional investors and hedge funds own 43.20% of the company's stock.

RCM Technologies Trading Up 3.2 %

Shares of NASDAQ RCMT traded up $0.67 during midday trading on Monday, reaching $21.64. The stock had a trading volume of 19,040 shares, compared to its average volume of 59,759. The firm has a market cap of $165.11 million, a price-to-earnings ratio of 10.50 and a beta of 0.64. RCM Technologies has a twelve month low of $17.11 and a twelve month high of $32.15. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.48 and a current ratio of 1.48. The company's 50 day moving average price is $20.21 and its 200 day moving average price is $19.74.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.03). RCM Technologies had a return on equity of 67.39% and a net margin of 6.19%. The firm had revenue of $69.16 million during the quarter, compared to analyst estimates of $69.90 million. During the same quarter last year, the firm posted $0.47 EPS. As a group, sell-side analysts expect that RCM Technologies will post 2.06 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Benchmark reiterated a "buy" rating and set a $33.00 target price on shares of RCM Technologies in a research report on Tuesday, August 13th.

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.