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Thursday, October 22, 2020

Recon Technology Ltd. (NASDAQ:RCON) is Gaining Momentum on Earnings Catalyst

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Recon Technology Ltd. (RCON) shares are trading at lower $1.05 and the avg recommendation for the stock is Hold.

To add more color to this target, the company’s high over the last year is $5.55 and the low is $0.75. Over the last 52 weeks, RCON is down -70.98% while the S&P 500 is up 18.28%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

RCON booked profit margins of -24.30%, its Return on Equity (ROE) is -19.20%, and its Return on Assets is -11.60%. All told, it is clear that, RCON needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. RCON has a short ratio of 0.13 and outstanding shares of 4.45M.

Company Outlook

RCON has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.94 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.76. Recon Technology Ltd. RCON also noted assets of $23.37 million at the end of the last quarter. Investors should also keep an eye on sector updates as RCON has historically followed its peers on positive news.

All told, Recon Technology Ltd. RCON has strung together solid data and demonstrated underlying fundamentals. At its current valuation, RCON represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Recon Technology Ltd. RCON is now commanding a market cap of 7.90M and a float of 4.26M. RCON is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of RCON stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in RCON, either long or short, and we have not been compensated for this article.

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