Recon Technology (NASDAQ:RCON) Stock Price Crosses Below Two Hundred Day Moving Average of $2.80
Recon Technology, Ltd. (NASDAQ:RCON), share price has fallen below its 200-day moving average, hitting $1.38 at its lowest during Friday’s trading. The stock has a 200-day moving average of $2.80, but it last traded at $1.39 with a volume of 5,377 shares being exchanged.
Wall Street Analysts Forecast Growth
Wall Street analysts have weighed in on Recon Technology. Recently, StockNews.com initiated coverage on the company, giving it a "sell" rating. This indicates a cautious outlook, suggesting investors consider the company's future prospects carefully.
Recon Technology Stock Down 2.1%
The stock of Recon Technology has seen a decline of 2.1%. The company has a 50-day simple moving average of $1.60 and a 200-day simple moving average of $2.80, illustrating a significant downward shift in its stock price.
Recon Technology Company Profile
Recon Technology, Ltd. provides hardware, software, and on-site services specifically to the petroleum mining and extraction industry in the People's Republic of China. The company offers a range of equipment, tools, and other components necessary for oilfield production and other energy industries. Additionally, it develops and sells industrial automation control and information solutions.
Key Takeaways
- Recon Technology (NASDAQ:RCON) stock price has dipped significantly, crossing the two hundred-day moving average of $2.80.
- Wall Street analysts have issued a “sell” rating for the stock.
- The company’s stock declined by 2.1%, showing a troubling trend.
- Recon Technology continues to serve the petroleum industry with innovative solutions despite stock pressures.
Investors are advised to keep a close watch on the company’s performance and stock movements, as well as to heed analysts' recommendations to make informed investment decisions.
