Recon Technology Ltd (NASDAQ:RCON) shares, rose in value on Friday, April 26, with the stock price up by 46.28% to the previous day’s close as strong demand from buyers drove the stock to $0.12.
Actively observing the price movement in the recent trading, the stock is buoying the session at $0.08. Referring to stock’s 52-week performance, its high was $0.43, and the low was $0.07. On the whole, RCON has fluctuated by -13.77% over the past month.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 11.29M, with a low estimate of 11.29M and a high estimate of 11.29M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 11.29M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that RCON’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of RCON currently trading nearly -3.37% and -15.07% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 48.58, while the 7-day volatility ratio is showing 18.31% which for the 30-day chart, stands at 16.64%. Furthermore, Recon Technology Ltd (RCON)’s beta value is 2.28, and its average true range (ATR) is 0.02.
A comparison of Recon Technology Ltd (RCON) with its peers suggests the former has fared considerably weaker in the market. RCON showed an intraday change of 46.28% in today’s session so far, and over the past year, it shrunk by -70.33%%.
Data on historical trading for Recon Technology Ltd (NASDAQ:RCON) indicates that the trading volumes over the past 3 months, they’ve averaged 754.82K. According to company’s latest data on outstanding shares, there are 40.53 million shares outstanding.
Nearly 1.86% of Recon Technology Ltd’s shares belong to company insiders and institutional investors own 11.14% of the company’s shares. The stock has fallen by -48.63% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RCON stock heading into the next quarter.
