Recon Technology (NASDAQ:RCON) Shares Cross Below 200-Day Moving Average – Should You Sell?

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 trading hands.

Wall Street Analyst Weigh In

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

Recon Technology Stock Performance

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 company has a fifty day simple moving average of $2.24 and a two-hundred day simple moving average of $2.42.

Institutional Trading of Recon Technology

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC bought a new stake in Recon Technology, Ltd. (NASDAQ:RCON) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor 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 as of its most recent filing with the SEC. Institutional investors own 9.47% of the company’s stock.

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.