Recon Technology Ltd. [RCON] moved down -51.02: Why It’s Important

Recon Technology Ltd. [NASDAQ: RCON] loss -51.02% on the last trading session, reaching $6.24 price per share at the time. The company report on June 11, 2021 that Recon Updates Progress on its Technology-Driven Solutions for Electric Submersible Progressing Cavity Pump with $5 Million Orders Secured.

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Recon Technology, Ltd (NASDAQ: RCON) (“Recon” or the “Company”) announced that its subsidiary, Beijing BHD Petroleum Technology Limited, signed two contracts with North China E&P Company (the “North China Branch”) of China Petroleum & Chemical Corporation (“Sinopec”). Pursuant to these two contracts, the Company has provided technical service with ultra-deep electric submersible progressing cavity pump (“ESPCP”) to one gas well at the Dongsheng Field of the Second Gas Production Plant (the “Plant No. 2”) of the North China Branch and will provide the same service to another gas well at the Plant No. 2. Total amount of these two contracts is RMB 3,277,000 (approximately $0.51 million).

Management Statement.

Recon Technology Ltd. represents 7.33 million in outstanding shares, while the company has a total market value of $228.32 million with the latest information. RCON stock price has been found in the range of $4.62 to $17.50.

If compared to the average trading volume of 1.15M shares, RCON reached a trading volume of 122619045 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 1.97, with the Price to Sales ratio for RCON stock in the period of the last 12 months amounting to 24.03. The Price to Book ratio for the last quarter was 2.58, with the Price to Cash per share for the same quarter was set at 0.30.

Trading performance analysis for RCON stock

Recon Technology Ltd. [RCON] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -49.06. With this latest performance, RCON shares dropped by -28.11% in over the last four-week period, additionally plugging by 254.55% over the last 6 months – not to mention a rise of 262.79% 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 34.38, with the RSI for the last a single of trading hit 27.19, and the three-weeks RSI is set at 39.43 for Recon Technology Ltd. [RCON]. The present Moving Average for the last 50 days of trading for this stock 9.08, while it was recorded at 11.65 for the last single week of trading, and 3.65 for the last 200 days.

Recon Technology Ltd. [RCON]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at Recon Technology Ltd. [RCON]

There are presently around $1 million, or 2.80% of RCON stock, in the hands of institutional investors. The top three institutional holders of RCON stocks are: HRT FINANCIAL LP with ownership of 49,021, which is approximately New of the company’s market cap and around 53.60% of the total institutional ownership; JANE STREET GROUP, LLC, holding 25,644 shares of the stock with an approximate value of $0.16 million in RCON stocks shares; and VIRTU FINANCIAL LLC, currently with $0.15 million in RCON stock with ownership of nearly -60.604% 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 4 institutional holders increased their position in Recon Technology Ltd. [NASDAQ:RCON] by around 74,958 shares. Additionally, 2 investors decreased positions by around 37,800 shares, while 1 investors held positions by with 2,692 shares. The mentioned changes placed institutional holdings at 115,450 shares, according to the latest SEC report filing. RCON stock had 4 new institutional investments in for a total of 74,958 shares, while 1 institutional investors sold positions of 253 shares during the same period.

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