RCM Technologies (NASDAQ:RCMT) Stock Price Crosses Above 200 Day Moving Average - Here's Why

RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $20.16 and traded as high as $22.75. RCM Technologies shares last traded at $22.02, with a volume of 40,403 shares traded.

Wall Street Analyst Weigh In

RCMT has been the subject of several recent research reports. Benchmark increased their price target on RCM Technologies from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Monday, November 11th. B. Riley lifted their target price on shares of RCM Technologies from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Finally, StockNews.com cut shares of RCM Technologies from a "buy" rating to a "hold" rating in a research report on Monday, November 11th.

RCM Technologies Stock Down 2.4 %

The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.63 and a current ratio of 1.63. The firm's 50 day moving average price is $21.26 and its two-hundred day moving average price is $20.17. The company has a market cap of $163.40 million, a P/E ratio of 11.02 and a beta of 0.63.

Hedge Funds Weigh In On RCM Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Truvestments Capital LLC grew its position in RCM Technologies by 2.2% in the 3rd quarter. Truvestments Capital LLC now owns 35,148 shares of the business services provider's stock worth $713,000 after purchasing an additional 772 shares in the last quarter. State Street Corp grew its holdings in shares of RCM Technologies by 6.7% in the third quarter. State Street Corp now owns 25,555 shares of the business services provider's stock valued at $518,000 after acquiring an additional 1,600 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. boosted its position in RCM Technologies by 19.9% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,208 shares of the business services provider's stock worth $247,000 after purchasing an additional 2,191 shares during the last quarter. BNP Paribas Financial Markets bought a new position in RCM Technologies during the third quarter valued at about $48,000. Finally, O Shaughnessy Asset Management LLC increased its holdings in RCM Technologies by 13.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 73,506 shares of the business services provider's stock worth $1,571,000 after buying an additional 8,513 shares during the last quarter. Institutional investors and hedge funds own 43.20% of the company's stock.

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.