The shares of RCM Technologies Inc. (RCMT) rose 7.85% after hours to trade at $4.67 at the time of our last check. RCMT stock closed at $4.33 on Wednesday after gaining 6.13%. RCMT shares were traded at 1.57 million shares, higher than the average daily volume of 0.13 million shares for the last 50 days. This past week, RCMT shares rose by 2.61%, and they have gained 181.17% over the last 12 months.
RCMT stock has gained 18.31% over the past three months while losing 67.18% over the past six. Furthermore, RCMT stock currently has a market value of $48.11 million and 11.54 million outstanding shares. In response to news of the completion of a new installation project, RCMT stock surged.
Which RCMT project has been completed?
RCM Technologies is a leading provider of business and technology solutions committed to enhancing and maximizing its customers’ operational performance through the adoption and deployment of advanced computer and engineering technologies. The RCMT stock is recognized as an innovator in providing these solutions to government agencies and commercial customers.
In addition to serving major medical facilities and educational institutions, RCMT also provides specialty healthcare services. RCMT has offices in major metropolises throughout North America and Serbia.
RCM Technologies completed an Engineer-Procure-Construct (EPC) project for a major US utility which involved the construction of a new high-voltage substation.
- With the contract with American Electric Power (AEP), RCMT designed and constructed the new Esperanza Substation in Matagorda County, Texas, comprises a 138kV bus, three (3) breaker rings, and two (2) 28.8 MVAR capacitor banks.
- As part of AEP’s mission to power their clients, RCMT’s Energy Services team successfully designed and constructed the 138kV Substation in eleven (11) months using Integrated Design and Construction technology.
- RCMT stock met the utility’s requirement for a turnkey solution, including the scope and a finished product.
- RCMT has been involved in numerous projects with AEP, an important client of the company.
- RCMT recently completed a project which included constructing an approximately 0.75 miles long double-circuit 138kV transmission line through the Esperanza Substation to connect with the existing Blessing, Celanese 138kV Transmission Line.
- An industrial user will have 50MW of load interconnected to Esperanza Substation.
RCMT Stock completing the project:
Through its integrated design and construction tools and processes, RCM Technologies (RCMT)’s Energy Services team continued to focus on providing safe, innovative solutions to support business success for its clients. RCMT’s approach to large construction projects enables its clients to meet their aggressive goals on time and on budget while preventing or mitigating the majority of issues along the way.
