Recon Technology Shares Set to Reverse Split on Tuesday, August 18th (NASDAQ:RCON)

Shares of Recon Technology, Ltd. (NASDAQ:RCON) are set to reverse split before the market opens on Tuesday, August 18th. The 1-200 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, August 17th.

Recon Technology Trading Down 7.2%

RCON traded down $0.00 on Friday, reaching $0.03. 57,435,991 shares of the company’s stock were exchanged, compared to its average volume of 6,019,504. The company’s 50 day moving average is $0.38 and its 200-day moving average is $0.79. Recon Technology has a twelve month low of $0.02 and a twelve month high of $3.15. The company has a quick ratio of 4.23, a current ratio of 4.24 and a debt-to-equity ratio of 0.02.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Recon Technology in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

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.