Invesco Capital Management LLC recently announced the acquisition of new stake in RCM Technologies Inc. (NASDAQ:RCMT). This fresh investment now brings its stake to 2.96% valued currently at $3.6 million. In addition, Acadian Asset Management LLC raised its holdings by 41499.0 to 0.28 million shares. And Hillsdale Investment Management, has lifted its position by 72.59% or 96100.0 shares – to 0.23 million shares.
With over 80328.0 RCM Technologies Inc. (RCMT) shares trading Tuesday and a closing price of $13.04 on the day, the dollar volume was approximately $1.05 million. The shares have shown a negative half year performance of -27.31% and its price on 01/24/23 gained nearly 1.80%. Currently, there are 10.15M common shares owned by the public and among those 6.57M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for RCMT have a consensus price objective of $26.50. The analysts have set the share’s price value over the next 12 months at a high of $30.00 and a low of $23.00. The average price target is 50.79% above its recent price level and an upside to the estimated low will see the stock gain 43.3% over that period. But an upside of 56.53% will see the stock hit the forecast high price target while median target price for the stock is $26.50.
Insiders at the company have transacted a total of 40 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 7 of these insider trades were purchases, accounting for 397,428 shares. Insider sales of the common stock occurred on 33 occasions, with total insider shares sold totaling 517,339 shares.
The top 3 mutual fund holders in RCM Technologies Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and DFA US Small Cap Portfolio. Vanguard Total Stock Market Index owns 0.29 million shares of the company’s stock, all valued at over $3.63 million. Vanguard Extended Market Index Fu sold 9542.0 shares to see its total holdings shrink to 92320.0 shares valued at over $1.14 million and representing 0.94% of the shares outstanding. DFA US Small Cap Portfolio now owns shares totaling to 0.92% of the shares outstanding.
Shares of RCM Technologies Inc. (NASDAQ: RCMT) opened at $12.54, down -$0.27 from a prior closing price of $12.81. However, the script later moved the day high at 13.09, up 1.80%. The company’s stock has a 5-day price change of -0.76% and -22.01% over the past three months. RCMT shares are trading 5.67% year to date (YTD), with the 12-month market performance up to 114.83% higher. It has a 12-month low price of $5.22 and touched a high of $28.82 over the same period. RCMT has an average intraday trading volume of 107.03K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.07%, -6.68%, and -23.45% respectively.
Institutional ownership of RCM Technologies Inc. (NASDAQ: RCMT) shares accounts for 41.20% of the company’s 10.15M shares outstanding. Mutual fund holders own 119.37%, while other institutional holders and individual stakeholders account for 30.10% and 10.80% respectively.
It has a market capitalization of $125.71M and a beta (3y monthly) value of 0.88. The stock’s trailing 12-month PE ratio is 6.39, while the earnings-per-share (ttm) stands at $2.04. The company has a PEG of 0.43 and a Quick Ratio of 1.50 with the debt-to-equity ratio at 0.05. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.37% over the week and 4.78% over the month.
Analysts forecast that RCM Technologies Inc. (RCMT) will achieve an EPS of $0.28 for the current quarter, $0.53 for the next quarter and $2.2 for 2023. The lowest estimate earnings-per-share for the quarter is $0.28 while analysts give the company a high EPS estimate of $0.28. Comparatively, EPS for the current quarter was $0.24 a year ago. Earnings per share for the fiscal year are expected to increase by 229.50%, and 9.25% over the next financial year. EPS should shrink at an annualized rate of 15.00% over the next five years, compared to 46.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate RCM Technologies Inc. (RCMT) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the RCMT, a number of firms have released research notes about the stock. B. Riley Securities stated their Buy rating for the stock in a research note on August 15, 2022, with the firm’s price target at $23. B. Riley FBR coverage for the RCM Technologies Inc. (RCMT) stock in a research note released on March 17, 2020 offered a Neutral rating with a price target of $2. The Benchmark Company was of a view on July 13, 2017 that the stock is Buy, while Boenning & Scattergood gave the stock Market Outperform rating on November 14, 2008, issuing a price target of $6- $3. Boenning & Scattergood on their part issued Market Outperform rating on April 03, 2008.
