RCM Technologies, Inc. (NASDAQ:RCMT) Short Interest Down 16.3% in November

RCM Technologies, Inc. (NASDAQ:RCMT) was the target of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 110,200 shares, a decrease of 16.3% from the October 31st total of 131,600 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average daily volume of 39,000 shares, the short-interest ratio is currently 2.8 days.

RCM Technologies Stock Performance

Shares of RCMT stock opened at $22.88 on Monday. 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 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.06. The stock has a market cap of $173.89 million, a PE ratio of 11.73 and a beta of 0.63. The business has a 50-day simple moving average of $21.79 and a 200-day simple moving average of $20.30.

Analyst Ratings Changes

A number of research firms recently commented on RCMT. B. Riley lifted their target price on RCM Technologies from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com cut shares of RCM Technologies from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Benchmark upped their price objective on shares of RCM Technologies from $33.00 to $37.00 and gave the company a “buy” rating in a report on Monday, November 11th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RCMT. Klein Pavlis & Peasley Financial Inc. grew its stake in shares of RCM Technologies by 19.9% during the 2nd 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 period. Panagora Asset Management Inc. purchased a new stake in RCM Technologies during the second quarter worth $458,000. Marshall Wace LLP grew its position in RCM Technologies by 174.0% during the second quarter. Marshall Wace LLP now owns 38,392 shares of the business services provider’s stock valued at $719,000 after buying an additional 24,380 shares during the period. Exchange Traded Concepts LLC purchased a new position in RCM Technologies in the third quarter valued at $315,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of RCM Technologies in the third quarter worth about $425,000. 43.20% of the stock is currently owned by hedge funds and other institutional investors.

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.