In a report released today, James Jang from Maxim Group reiterated a Buy rating on Recon Technology (RCON), with a price target of $2. The company’s shares closed yesterday at $0.99.
Jang commented:
“RCON is pivoting away from lower margin equipment and accessories offerings, and the change in sales strategy led to lower than expected top line results.”
According to TipRanks.com, Jang is a 3-star analyst with an average return of 3.1% and a 36.7% success rate. Jang covers the Services sector, focusing on stocks such as Sino-Global Shipping America, Eagle Bulk Shipping Inc, and Nordic American Tanker.
Recon Technology has an analyst consensus of Hold.
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The company has a one-year high of $1.90 and a one-year low of $0.63. Currently, Recon Technology has an average volume of 168.2K.
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Recon Technology Ltd. engages in the development and marketing of oilfield equipment, automation systems, tools, chemicals, and field services to petroleum firms. It operates through the following segments: Automation Product and Software, Equipment and Accessories, and Oilfield Environmental Protection.
