Recon Technology, Ltd. – Ordina (NASDAQ:RCON) Stock Closed 49.1% Above Its 50 Day Moving Average

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Shares of the company are trading at $1.70 which is well above the 50 day moving average of $1.14 and which is quite a bit above the 200 day moving average of $1.15. The 50 day moving average moved up $0.56 and the 200 day average went up $0.55 or +48.29%. Recon Technology, Ltd. – Ordina shares had a trading volume of 25K by the end of trading on Tuesday. Overall, volume was down 57.34% under the stocks normal daily volume.

Short traders are feeling a little more bearish on shares of the company if you evaluate the rise in short interest. The firm recorded a rise in short interest from September 15, 2017 to September 29, 2017 of 15.00%. Short interest increased 9,881 over that timeframe. Days to cover decreased -8.0 to 2.0 and the percentage of shorted shares was 0.01% on September 29.

A few notable investment firms have updated their holdings. As of the end of the quarter Morgan Stanley had acquired a total of 6,550 shares growing its position 13,100.0%. The value of the total investment in Recon Technology, Ltd. – Ordina increased from $0 to $8,000 increasing inf% quarter over quarter. Ubs Group Ag added to its holdings by buying 1,363 shares an increase of 29.1%. Ubs Group Ag now holds 6,044 shares with a value of $7,000. The total value of its holdings increased 16.7%.

Recon Technology, Ltd., launched on August 21, 2007, is a provider of hardware, software and on-site services to companies in the petroleum mining and extraction industry in China, the People’s Republic of China (PRC). The Company provides services designed to automate the extraction of petroleum. The Company controls by contract the People’s Republic of China companies of Beijing BHD Petroleum Technology Co., Ltd. (BHD) and Nanjing Recon Technology Co., Ltd. (Nanjing Recon) (collectively Domestic Companies). The Company offers strategic management, financial control and human resources allocation for the Domestic Companies. Through its contractual relationships with the Domestic Companies, the Company provides equipment, tools and other hardware related to oilfield production and management, and develops and sells its specialized industrial automation control and information solutions. The Company provides products and services to oil and gas field companies, which focus on the development and production of oil and natural gas. Its products and services include Equipment for Oil and Gas Production and Transportation, Oil and Gas Production Improvement Techniques, and Automation System and Service..

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