Recon Technology (NASDAQ:RCON) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Recon Technology, Ltd. (NASDAQ:RCON)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.41 and traded as low as $2.29. Recon Technology shares last traded at $2.40, with a volume of 1,981 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Recon Technology in a research report on Friday. They issued a “sell” rating for the company.

Recon Technology Trading Down 2.0 %

The business has a 50 day moving average of $2.23 and a 200-day moving average of $2.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.64 and a current ratio of 10.67.

Hedge Funds Weigh In On Recon Technology

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC acquired a new position in shares of Recon Technology, Ltd. (NASDAQ:RCON) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 16,807 shares of the oil and gas company’s stock, valued at approximately $48,000. Belvedere Trading LLC owned about 0.21% of Recon Technology as of its most recent filing with the SEC. 9.47% of the stock is currently owned by hedge funds and other institutional investors.

About Recon Technology

Recon Technology, Ltd. provides hardware, software, and on-site services to companies in the petroleum mining and extraction industry in the People’s Republic of China. The company offers equipment, tools, and other components and parts related to oilfield production and other energy industries; and develops and sells industrial automation control and information solutions.