Recon Technology (NASDAQ:RCON) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

Recon Technology, Ltd. (NASDAQ:RCON) shares passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $84.61 and traded as low as $0.90. Recon Technology shares last traded at $1.01, with a volume of 1,042,525 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RCON shares. Wall Street Zen lowered shares of Recon Technology from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Recon Technology in a research note on Friday, September 4th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Recon Technology Price Performance

The stock has a 50-day moving average of $2.31 and a 200 day moving average of $82.21.

About Recon Technology

Recon Technology, Ltd. (NASDAQ: RCON) is a China-based provider of equipment, software and technical services for the oil and gas industry. The company focuses on helping energy producers automate and manage production operations, particularly in areas such as oilfield monitoring, control systems and process optimization.

Its products and services have included oilfield automation systems, electronic power and control equipment, and related engineering and technical support. Recon Technology has also been involved in solutions for enhanced oil recovery, well stimulation, environmental protection and other production-related applications.

Founded in 2003, Recon Technology serves oil and gas customers primarily in China through its operating subsidiaries and project-based activities.