Recon Technology (NASDAQ:RCON) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

Shares of Recon Technology, Ltd. (NASDAQ:RCON) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-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 trading hands.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Recon Technology in a research note on Wednesday. They issued a “sell” rating for the company.

Recon Technology Stock Up 7.7 %

The company has a debt-to-equity ratio of 0.02, a current ratio of 10.67 and a quick ratio of 10.64. The business’s 50 day simple moving average is $2.27 and its 200 day simple moving average is $2.35.

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 Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 reporting period. 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.