Recon Technology (NASDAQ:RCON) Shares Pass Below 200 Day Moving Average – What’s Next?

Recon Technology, Ltd. (NASDAQ:RCON)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.35 and traded as low as $2.20. Recon Technology shares last traded at $2.39, with a volume of 17,932 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Recon Technology in a report on Wednesday. They issued a “sell” rating on the stock.

Recon Technology Stock Up 1.3 %

The firm has a 50-day moving average price of $2.27 and a 200-day moving average price of $2.35. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.67 and a quick ratio of 10.64.

Hedge Funds Weigh In On Recon Technology

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

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.