Recon Technology, Ltd. (NASDAQ:RCON) experienced a decline in its stock price on Thursday, falling below its two hundred day moving average. The company’s two hundred day moving average is $2.96 and it traded as low as $1.37 on the day. Recon Technology shares were last traded at $1.40, with a volume of 17,457 shares changing hands. Despite this setback, Wall Street analysts remain optimistic about the company’s growth prospects.
According to StockNews.com, Recon Technology provides hardware, software, and on-site services to companies in the petroleum mining and extraction industry in China. They also offer equipment, tools, and other components related to oilfield production and other energy industries. Additionally, the company develops and sells industrial automation control and information solutions to improve efficiency and productivity in these industries.
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