Recon Technology (NASDAQ:RCON) Stock Passes Below 200 Day Moving Average of $2.58

Recon Technology, Ltd. (NASDAQ:RCON)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.58 and traded as low as $1.11. Recon Technology shares last traded at $1.18, with a volume of 202,502 shares.

The company’s 50-day simple moving average is $1.67 and its 200 day simple moving average is $2.58. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.34 and a current ratio of 6.39.

Several institutional investors have recently bought and sold shares of the business. Sabby Management LLC bought a new position in shares of Recon Technology during the 2nd quarter worth approximately $4,027,000. Renaissance Technologies LLC bought a new position in shares of Recon Technology during the 3rd quarter worth approximately $811,000. Morgan Stanley bought a new stake in shares of Recon Technology in the 2nd quarter worth approximately $776,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Recon Technology in the 2nd quarter worth approximately $73,000. Finally, Jump Financial LLC bought a new stake in shares of Recon Technology in the 2nd quarter worth approximately $68,000. 6.61% of the stock is currently owned by hedge funds and other institutional investors.

About Recon Technology (NASDAQ:RCON)

Recon Technology Ltd. is a provider of hardware, software, and on-site services to companies primarily in the petroleum mining and extraction industry. The firm provides services designed to automate and enhance the extraction of petroleum. It operates through the following segments: Automation Product & Software and Equipment & Accessories.

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