On Friday, Recon Technology, Ltd.’s (NASDAQ:RCON) share price fell below its 200-day moving average. The stock had a 200-day moving average of $2.80 and traded as low as $1.38. Recon Technology shares were last traded at $1.39, with a volume of 5,377 shares changing hands.
The company’s recent struggles have been reflected in the downgrade of its “sell” rating by StockNews.com, which has caused the stock to fall by 2.1%. Despite this setback, Wall Street analysts continue to forecast growth for the company in the future.
Recon Technology also has a 50-day simple moving average of $1.60 and a 200-day simple moving average of $2.80. The firm provides hardware, software, and on-site services to companies in the petroleum mining and extraction industry in China, offering equipment, tools, and components related to oilfield production as well as industrial automation control and information solutions.
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