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

Recon Technology, Ltd. (NASDAQ:RCON)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.19 and traded as low as $2.09. Recon Technology shares last traded at $2.13, with a volume of 13,978 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Recon Technology in a research note on Thursday. They set a “sell” rating for the company.

Recon Technology Stock Down 1.8 %

The company has a quick ratio of 10.64, a current ratio of 10.67 and a debt-to-equity ratio of 0.02. The stock’s fifty day moving average price is $2.87 and its 200-day moving average price is $2.19.

Institutional Investors Weigh In On Recon Technology

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC purchased a new position in Recon Technology, Ltd. (NASDAQ:RCON) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 16,807 shares of the oil and gas company’s stock, valued at approximately $48,000. Belvedere Trading LLC owned about 0.21% of Recon Technology at the end of the most recent quarter. Hedge funds and other 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.