Recon Technology (NASDAQ:RCON) Stock Crosses Above 50-Day Moving Average – Here’s Why

Recon Technology, Ltd. (NASDAQ:RCON) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $1.39 and traded as high as $1.64. Recon Technology shares last traded at $1.56, with a volume of 4,317 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Recon Technology in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Recon Technology Stock Performance

The company has a quick ratio of 5.86, a current ratio of 5.88 and a debt-to-equity ratio of 0.02. The company’s fifty day simple moving average is $1.39 and its 200-day simple moving average is $2.00.

Recon Technology (NASDAQ:RCON) last issued its earnings results on Saturday, September 27th. The oil and gas company reported ($1.19) earnings per share for the quarter. The firm had revenue of $1.74 million for the quarter.

Recon Technology Company Profile

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.