Market Analysts see Recon Technology Ltd. [RCON] gaining to $2.50. Time to buy?

Recon Technology Ltd. [NASDAQ: RCON] stock went on an upward path that rose over 21.23% on Monday, amounting to a one-week price increase of more than 15.83%. The company report on April 8, 2021 that Recon Technology Announces FGS’ Cooperation Agreement with Henan CNPC and Alipay.

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Recon Technology, Ltd (NASDAQ: RCON), (“Recon” or the “Company”), announced the Company’s 51%-owned subsidiary, Future Gas Station (Beijing) Technology, Ltd. (“FGS”), has entered into a cooperation agreement (the “Agreement”) with Henan sales branch of PetroChina Co. Ltd. (“Henan CNPC”) and Alipay (Hangzhou) Information Technology Co., Ltd (“Alipay”) to develop a mini program named “Hao Ke Le Jia” on Alipay’s mobile application and to provide operation and maintenance services for the related joint membership program. This is the second time that FGS and Alipay cooperate since they began to provide similar service to Zhejiang sales branch of PetroChina Co. Ltd. (“Zhejiang CNPC”) in October 2020.

According to the Agreement, Henan CNPC and Alipay will use their own resources and brands to jointly create a car owner membership program in Henan province which will be promoted through “Hao Ke Le Jia” mini program. FGS is obligated to provide related services including developing, operating and maintaining the mini program. The car owners who purchase or receive the membership through the mini grogram will be able to enjoy monthly refuel discounts, coupons for non-oil products sold at gas stations, and various membership benefits provided by Alipay, as well as convenient fueling service provided by Henan CNPC.

Over the last 12 months, RCON stock rose by 246.98%. The average equity rating for RCON stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $145.14 million, with 7.33 million shares outstanding and 4.76 million shares in the current float. Compared to the average trading volume of 2.18M shares, RCON stock reached a trading volume of 1994409 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 1.11, with the Price to Sales ratio for RCON stock in the period of the last 12 months amounting to 15.61. The Price to Book ratio for the last quarter was 3.40, with the Price to Cash per share for the same quarter was set at 0.60.

RCON Stock Performance Analysis:

Recon Technology Ltd. [RCON] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.83. With this latest performance, RCON shares gained by 122.38% in over the last four-week period, additionally plugging by 718.92% over the last 6 months – not to mention a rise of 246.98% 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 66.02, with the RSI for the last a single of trading hit 68.16, and the three-weeks RSI is set at 65.22 for Recon Technology Ltd. [RCON]. The present Moving Average for the last 50 days of trading for this stock 4.22, while it was recorded at 6.89 for the last single week of trading, and 1.98 for the last 200 days.

Insight into Recon Technology Ltd. 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 1.60 and a Current Ratio set at 1.60.

Recon Technology Ltd. [RCON] Insider Position Details

There are presently around $1 million, or 2.60% of RCON stock, in the hands of institutional investors. The top three institutional holders of RCON stocks are: VIRTU FINANCIAL LLC with ownership of 61,955, which is approximately 74.792% of the company’s market cap and around 53.60% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 16,084 shares of the stock with an approximate value of $0.11 million in RCON stocks shares; and TOWER RESEARCH CAPITAL LLC (TRC), currently with $2000.0 in RCON stock with ownership of nearly New of the company’s market capitalization.

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Positions in Recon Technology Ltd. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 3 institutional holders increased their position in Recon Technology Ltd. [NASDAQ:RCON] by around 42,847 shares. Additionally, 2 investors decreased positions by around 70,228 shares, while 0 investors held positions by with 34,783 shares. The mentioned changes placed institutional holdings at 78,292 shares, according to the latest SEC report filing. RCON stock had 2 new institutional investments in for a total of 16,337 shares, while 2 institutional investors sold positions of 70,228 shares during the same period.

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