Recon Technology Ltd. [NASDAQ: RCON] closed the trading session at $2.08 on 01/20/21. The day’s price range saw the stock hit a low of $1.73, while the highest price level was $2.14. The company report on January 19, 2021 that Recon Announces Development of AI-based Control System of Electric Submersible Pump.
Recon Technology, Ltd. (NASDAQ: RCON), (“Recon” or the “Company”), a China-based independent solutions integrator in the oilfield service, electric power and coal chemical industries, announced that the Company successfully completed the design and implementation of an intelligent control platform system (the “System”) for North China E&P Company (the “North China Branch”) of China Petroleum & Chemical Corporation (“Sinopec”), according to a technology service agreement (the “Agreement”) signed between one of Recon’s subsidiaries and the North China Branch of Sinopec in October 2020.
The System will help Sinopec analyze the data collected by the sensors installed on electrical submersible pumps (the “ESPs”) of gas wells using AI algorithm automatically and monitor and control the operation of the ESPs according to the analysis. This is the first time that intelligent technology is used in Sinopec’s production wells using ESPs. Many gas and oil producing wells require an artificial lift to increase the flow of fluids when the reservoir pressure is not high enough. Typically, ESPs are used but are not always operating efficiently and can cause costly downtime for operators. The several months’ testing and examination has proved that the System is efficient and effective in prolonging service life of ESPs and improving economic performance of gas wells.
The stocks have a year to date performance of 41.50 percent and weekly performance of 14.92 percent. The stock has been moved at 79.31 percent over the last six months. The stock has performed 63.78 percent around the most recent 30 days and changed 76.27 percent over the most recent 3-months.
If compared to the average trading volume of 1.30M shares, RCON reached to a volume of 4153302 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Recon Technology Ltd. [RCON]:
Maxim Group have made an estimate for Recon Technology Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 12, 2018.
The Average True Range (ATR) for Recon Technology Ltd. is set at 0.22, with the Price to Sales ratio for RCON stock in the period of the last 12 months amounting to 1.53. The Price to Book ratio for the last quarter was 0.59, with the Price to Cash per share for the same quarter was set at 0.63.
RCON stock trade performance evaluation
Recon Technology Ltd. [RCON] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.92. With this latest performance, RCON shares gained by 63.78% in over the last four-week period, additionally plugging by 79.31% over the last 6 months – not to mention a drop of -17.26% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RCON stock in for the last two-week period is set at 68.27, with the RSI for the last a single of trading hit 71.44, and the three-weeks RSI is set at 65.98 for Recon Technology Ltd. [RCON]. The present Moving Average for the last 50 days of trading for this stock 1.36, while it was recorded at 1.76 for the last single week of trading, and 1.57 for the last 200 days.
Recon Technology Ltd. [RCON]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Recon Technology Ltd. [RCON] shares currently have an operating margin of -30.68 and a Gross Margin at +29.81. Recon Technology Ltd.’s Net Margin is presently recorded at -29.27.
Return on Total Capital for RCON is now -14.32, given the latest momentum, and Return on Invested Capital for the company is -17.17. Return on Equity for this stock declined to -18.57, with Return on Assets sitting at -10.87. When it comes to the capital structure of this company, Recon Technology Ltd. [RCON] has a Total Debt to Total Equity ratio set at 27.92. Additionally, RCON Total Debt to Total Capital is recorded at 21.82, with Total Debt to Total Assets ending up at 15.80. Long-Term Debt to Equity for the company is recorded at 7.81, with the Long-Term Debt to Total Capital now at 6.10.
Reflecting on the efficiency of the workforce at the company, Recon Technology Ltd. [RCON] managed to generate an average of -$20,425 per employee. Receivables Turnover for the company is 0.70 with a Total Asset Turnover recorded at a value of 0.37.Recon Technology Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.00.
Recon Technology Ltd. [RCON]: Insider Ownership positions
There are presently around $0 million, or 1.50% of RCON stock, in the hands of institutional investors. The top three institutional holders of RCON stocks are: HRT FINANCIAL LP with ownership of 45,754, which is approximately 105.534% of the company’s market cap and around 53.60% of the total institutional ownership; VIRTU FINANCIAL LLC, holding 35,445 shares of the stock with an approximate value of $62000.0 in RCON stocks shares; and CITADEL ADVISORS LLC, currently with $43000.0 in RCON stock with ownership of nearly 46.991% of the company’s market capitalization.
Positions in Recon Technology Ltd. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 3 institutional holders increased their position in Recon Technology Ltd. [NASDAQ:RCON] by around 66,762 shares. Additionally, 3 investors decreased positions by around 267,832 shares, while 0 investors held positions by with 228,921 shares. The mentioned changes placed institutional holdings at 105,673 shares, according to the latest SEC report filing. RCON stock had 1 new institutional investments in for a total of 35,445 shares, while 3 institutional investors sold positions of 267,832 shares during the same period.