Recon Technology (NASDAQ:RCON) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Recon Technology, Ltd. (NASDAQ:RCON)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.50 and traded as low as $2.04. Recon Technology shares last traded at $2.04, with a volume of 5,636 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Recon Technology in a research report on Tuesday. They set a “sell” rating on the stock.

Recon Technology Trading Down 3.3 %

The company has a current ratio of 10.67, a quick ratio of 10.64 and a debt-to-equity ratio of 0.02. The company’s fifty day simple moving average is $2.19 and its 200-day simple moving average is $2.50.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC bought a new stake in Recon Technology, Ltd. (NASDAQ:RCON) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 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 at the end of the most recent reporting period. 9.47% of the stock is owned by institutional investors.

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.