Recon Technology (NASDAQ:RCON) Share Price Breaks Below 200 Day Moving Average – Here’s Why

Recon Technology, Ltd. (NASDAQ:RCON)’s stock price passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $74.60 and traded as low as $0.9032. Recon Technology shares last traded at $0.9037, with a volume of 61,247 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RCON. Wall Street Zen cut Recon Technology from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Recon Technology in a report on Friday, September 4th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Recon Technology currently has a consensus rating of “Sell”.

Recon Technology Stock Performance

The business’s 50 day moving average price is $1.55 and its 200-day moving average price is $74.60.

Recon Technology Company Profile

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.