Recon Technology (NASDAQ:RCON) Shares Down 11%

Recon Technology, Ltd. (NASDAQ:RCON) was down 11% during mid-day trading on Wednesday . The stock traded as low as $1.56 and last traded at $1.61. Approximately 965,064 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 1,152,208 shares. The stock had previously closed at $1.81.

Separately, ValuEngine upgraded shares of Recon Technology from a “sell” rating to a “hold” rating in a research report on Monday, October 19th.

The business’s 50-day moving average price is $1.41 and its 200 day moving average price is $1.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.98 and a quick ratio of 1.95.

A hedge fund recently bought a new stake in Recon Technology stock. Virtu Financial LLC purchased a new position in shares of Recon Technology, Ltd. (NASDAQ:RCON) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 35,445 shares of the oil and gas company’s stock, valued at approximately $32,000. Virtu Financial LLC owned 0.49% of Recon Technology as of its most recent filing with the SEC. 5.56% of the stock is owned by hedge funds and other institutional investors.

Recon Technology Company Profile (NASDAQ:RCON)

Recon Technology, Ltd. provides hardware, software, and on-site services to companies in the petroleum mining and extraction industry in the People's Republic of China. The company offers equipment, tools, and other hardware related to oilfield production and management, and transportation; and develops and sells industrial automation control and information solutions.

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