Recon Technology (NASDAQ:RCON) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

Recon Technology, Ltd. (NASDAQ:RCON) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.38 and traded as low as $2.14. Recon Technology shares last traded at $2.19, with a volume of 3,204 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Recon Technology in a research note on Thursday. They issued a “sell” rating for the company.

Recon Technology Stock Down 1.4 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.64 and a current ratio of 10.67. The business has a 50 day moving average price of $2.25 and a two-hundred day moving average price of $2.38.

Institutional Investors Weigh In On Recon Technology

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC bought a new position in Recon Technology, Ltd. (NASDAQ:RCON) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 16,807 shares of the oil and gas company’s stock, valued at approximately $48,000. Belvedere Trading LLC owned 0.21% of Recon Technology at the end of the most recent quarter. Hedge funds and other institutional investors own 9.47% of the company’s stock.

Recon Technology Company Profile

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.