Recon Technology (NASDAQ:RCON) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Recon Technology, Ltd. (NASDAQ:RCON) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.86 and traded as low as $0.3801. Recon Technology shares last traded at $0.4110, with a volume of 3,430,580 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Recon Technology in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Recon Technology presently has an average rating of “Sell”.

Recon Technology Stock Down 34.1%

The firm’s fifty day moving average is $0.45 and its 200 day moving average is $0.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.23 and a current ratio of 4.24.

About Recon Technology

Recon Technology Ltd, through its subsidiaries, specializes in the design, development, manufacturing and sale of nondestructive testing (NDT) equipment and wireless communication products. The company’s NDT portfolio comprises ultrasonic flaw detectors, thickness gauges, phased array systems, eddy current instruments and digital radiography imaging equipment. These solutions enable precision inspection of welds, pipelines, pressure vessels and structural components across a range of industries.

In addition to hardware, Recon Technology provides software for data acquisition, image processing and reporting, as well as calibration, training and technical support services.