RCM Technologies Inc. (NASDAQ:RCMT) Stock Continues to Trend Higher: What’s The Buzz?
RCM Technologies Inc. (NASDAQ:RCMT) jumped 6% in pre-market after announcing the completion of the Engineer-Procure Construct project involving the installation of a high–voltage substation for American Electric Power.
The deal with AEP involved designing and building the vital new Esperanza substation consisting of 138kV three breaker ring bus plus two 28.8 MVAR capacitor banks located in Matagorda County in Texas. By employing Integrated Design and Constriction tech, the company’s Energy Service team managed to design and construct a 138kV substation in less than 11 months supporting AEP’s goal in powering clients.
Project Manager Jim Nivens said RCM meets the utility’s goal of a turnkey product, including finished project and scope. RCM has worked on several AEP projects in the past. The completed project also includes installing around a 0.75-mile double-circuit 138kV line interconnected with the Esperanza Substation to the Blessing-Celanese 138kV line. So in the coming weeks, RCMT is a stock worth keeping an eye on.
Market Reaction:
On Wednesday, RCMT stock rose 6.13% at $4.33 with more than 2.84 million shares, compared to its average volume of 88K shares. The stock has moved within a range of $4.0926 – 4.3300 after opening the trade at $4.14. Over the past 52-week, the stock has been trading within a range of $ 1.2300 – 12.4900.
