Short Interest in RCM Technologies, Inc. (NASDAQ:RCMT) Drops By 16.3%

RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 110,200 shares, a drop of 16.3% from the October 31st total of 131,600 shares. Approximately 2.2% of the company's shares are sold short. Based on an average daily volume of 39,000 shares, the short-interest ratio is presently 2.8 days.

Institutional Investors Weigh In On RCM Technologies

Institutional investors have recently added to or reduced their stakes in the business. Panagora Asset Management Inc. bought a new position in shares of RCM Technologies in the second quarter worth about $458,000. Marshall Wace LLP lifted its holdings in shares of RCM Technologies by 174.0% in the second quarter. Marshall Wace LLP now owns 38,392 shares of the business services provider's stock worth $719,000 after buying an additional 24,380 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of RCM Technologies in the third quarter worth approximately $425,000. Exchange Traded Concepts LLC purchased a new position in shares of RCM Technologies in the 3rd quarter worth about $315,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of RCM Technologies during the 3rd quarter valued at about $265,000. Hedge funds and other institutional investors own 43.20% of the company's stock.

RCM Technologies Trading Down 1.1 %

Shares of NASDAQ:RCMT traded down $0.25 during trading on Friday, hitting $22.88. The company had a trading volume of 15,864 shares, compared to its average volume of 59,469. RCM Technologies has a one year low of $17.11 and a one year high of $32.15. The company has a fifty day simple moving average of $21.79 and a two-hundred day simple moving average of $20.32. The stock has a market cap of $173.82 million, a price-to-earnings ratio of 11.73 and a beta of 0.63. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.63 and a quick ratio of 1.63.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of RCM Technologies from a "buy" rating to a "hold" rating in a research note on Monday, November 11th. B. Riley raised their price target on shares of RCM Technologies from $35.00 to $37.00 and gave the company a "buy" rating in a report on Monday, November 11th. Finally, Benchmark boosted their price objective on shares of RCM Technologies from $33.00 to $37.00 and gave the company a "buy" rating in a research report on Monday, November 11th.

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.