Short Interest in R C M Technologies Inc (NASDAQ:RCMT) Drops By 21.4%
R C M Technologies Inc (NASDAQ:RCMT) saw a large decrease in short interest in August. As of August 31st, there was short interest totalling 3,300 shares, a decrease of 21.4% from the July 31st total of 4,200 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 12,600 shares, the days-to-cover ratio is presently 0.3 days.
Separately, Zacks Investment Research upgraded shares of R C M Technologies from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a research report on Wednesday, August 14th.
An institutional investor recently raised its position in R C M Technologies stock. Bourgeon Capital Management LLC lifted its holdings in shares of R C M Technologies Inc (NASDAQ:RCMT) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 192,218 shares of the business services provider’s stock after purchasing an additional 4,290 shares during the quarter. Bourgeon Capital Management LLC owned approximately 1.51% of R C M Technologies worth $769,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 26.01% of the company’s stock.
R C M Technologies (NASDAQ:RCMT) last announced its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.10 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. R C M Technologies had a net margin of 2.00% and a return on equity of 14.34%. The company had revenue of $50.71 million for the quarter, compared to analyst estimates of $52.32 million. On average, sell-side analysts anticipate that R C M Technologies will post 0.41 earnings per share for the current year.
R C M Technologies Company Profile
RCM Technologies, Inc provides business and technology solutions in the United States, Canada, Puerto Rico, and Serbia. It operates through three segments: Engineering, Specialty Health Care, 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.
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