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Recon Technology Ltd. (RCON): Don’t ignore this Blaring Warning Signal

Recon Technology Ltd. (RCON) is priced at $1.50 after the most recent trading session. At the very opening of the session, the stock price was $1.35 and reached a high price of $1.51, prior to closing the session it reached the value of $1.35. The stock touched a low price of $1.28.Recently in News on December 19, 2022, Recon Awarded New Contract to Provide Gas Flares for Oil and Gas Fields in China’s Northwestern Qinghai Province. Recon Technology, Ltd (NASDAQ: RCON) (“Recon” or the “Company”), a China-based independent solutions integrator in the oilfield service and environmental protection, electric power and coal chemical industries, today announced that a mainland China variable interest entity’s subsidiary, Beijing BHD Petroleum Technology Co., Ltd. (“Beijing BHD”) was awarded a new RMB1.31 million ($0.19 million) contract to provide gas flares for oil and gas fields operated by a leading China oil and gas company in the Northwestern Qinghai province. In total, Beijing BHD has generated RMB8.50 million ($1.22 million) in revenue from awarded bids and contracts for heating furnaces and related accessories since July 2022. You can read further details here

Recon Technology Ltd. had a pretty favorable run when it comes to the market performance. The 1-year high price for the company’s stock is recorded $1.6600 on 01/18/23, with the lowest value was $1.2000 for the same time period, recorded on 01/05/23.

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Recon Technology Ltd. (RCON) full year performance was 41.51%

Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stock’s existing status and the future performance. Presently, Recon Technology Ltd. shares are logging -9.64% during the 52-week period from high price, and 198.51% higher than the lowest price point for the same timeframe. The stock’s price range for the 52-week period managed to maintain the performance between $0.50 and $1.66.

The company’s shares, operating in the sector of Energy managed to top a trading volume set approximately around 652047 for the day, which was evidently higher, when compared to the average daily volumes of the shares.

When it comes to the year-to-date metrics, the Recon Technology Ltd. (RCON) recorded performance in the market was 19.05%, having the revenues showcasing 56.28% on a quarterly basis in comparison with the same period year before. At the time of this writing, the total market value of the company is set at 48.18M, as it employees total of 188 workers.

Specialists analysis on Recon Technology Ltd. (RCON)

During the last month, 0 analysts gave the Recon Technology Ltd. a BUY rating, 0 of the polled analysts branded the stock as an OVERWEIGHT, 0 analysts were recommending to HOLD this stock, 0 of them gave the stock UNDERWEIGHT rating, and 0 of the polled analysts provided SELL rating.

According to the data provided on Barchart.com, the moving average of the company in the 100-day period was set at 0.9648, with a change in the price was noted +0.80. In a similar fashion, Recon Technology Ltd. posted a movement of +115.05% for the period of last 100 days, recording 273,500 in trading volumes.

Total Debt to Equity Ratio (D/E) can also provide valuable insight into the company’s financial health and market status. The debt to equity ratio can be calculated by dividing the present total liabilities of a company by shareholders’ equity. Debt to Equity thus makes a valuable metrics that describes the debt, company is using in order to support assets, correlating with the value of shareholders’ equity The total Debt to Equity ratio for RCON is recording 0.06 at the time of this writing. In addition, long term Debt to Equity ratio is set at 0.01.

Trends and Technical analysis: Recon Technology Ltd. (RCON)

Raw Stochastic average of Recon Technology Ltd. in the period of last 50 days is set at 80.25%. The result represents improvement in oppose to Raw Stochastic average for the period of the last 20 days, recording 70.91%. In the last 20 days, the company’s Stochastic %K was 51.61% and its Stochastic %D was recorded 45.68%.

Now, considering the stocks previous presentation, multiple moving trends are noted. Year-to-date Price performance of the company’s stock appears to be pessimistic, given the fact the metric is recording 19.05%. Additionally, trading for the stock in the period of the last six months notably improved by 108.25%, alongside a boost of 41.51% for the period of the last 12 months. The shares increased approximately by -4.46% in the 7-day charts and went down by 31.00% in the period of the last 30 days. Common stock shares were driven by 56.28% during last recorded quarter.

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