Recon Technology (NASDAQ:RCON) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

Recon Technology, Ltd. (NASDAQ:RCON) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.11 and traded as low as $0.5413. Recon Technology shares last traded at $0.5413, with a volume of 32,562 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Recon Technology in a research note on Tuesday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Recon Technology Stock Performance

The company has a quick ratio of 4.23, a current ratio of 4.24 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $0.77 and a 200-day simple moving average of $1.11.

Recon Technology (NASDAQ:RCON) last released its quarterly earnings data on Friday, March 13th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.47. The firm had revenue of $6.08 million during the quarter, compared to the consensus estimate of $4.70 million.

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.