Recon Technology (NASDAQ:RCON) Stock Price Crosses Below 200-Day Moving Average – Should You Sell?

Recon Technology, Ltd. (NASDAQ:RCON) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Wall Street Analyst Weigh In

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

Recon Technology Trading Up 9.4 %

The business’s 50 day simple moving average is $2.23 and its 200 day simple moving average is $2.38. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.64 and a current ratio of 10.67.

Institutional Trading of Recon Technology

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC purchased a new position in shares of Recon Technology, Ltd. (NASDAQ:RCON) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 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 as of its most recent SEC filing. Institutional investors and hedge funds 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.