Recon Technology (NASDAQ:RCON) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Recon Technology, Ltd. (NASDAQ:RCON)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

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

Recon Technology Stock Down 7.3%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.23 and a current ratio of 4.24. The firm’s 50-day moving average price is $0.77 and its 200 day moving average price is $1.11.

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