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

Shares of Recon Technology, Ltd. (NASDAQ:RCON) passed 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 traded.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Recon Technology in a research note on Wednesday. They set a “sell” rating on the stock.

Recon Technology Stock Performance

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

Hedge Funds Weigh In On 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) during the 3rd quarter, according to its most recent disclosure with the 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 as of its most recent filing with the SEC. 9.47% of the stock is currently owned by hedge funds and other institutional investors.

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.