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

Recon Technology, Ltd. (NASDAQ:RCON) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-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 started coverage on Recon Technology in a report on Friday. They set a “sell” rating for the company.

Recon Technology Trading Down 2.9 %

The stock’s 50-day simple moving average is $2.24 and its 200-day simple moving average is $2.42. The company has a current ratio of 10.67, a quick ratio of 10.64 and a debt-to-equity ratio of 0.02.

Institutional Trading of Recon Technology

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC acquired a new stake in shares of Recon Technology, Ltd. (NASDAQ:RCON) in 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 at the end of the most recent reporting period. 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.