Recon Technology, Ltd. (NASDAQ:RCON) reached 232.81% versus a 1-year low price of $0.76. The stock was last seen 108.41% higher, reaching at $2.13 on Oct. 16, 2017. At recent session, the prices were hovering between $2.07 and $2.47. This company shares are -100% up from its target price of $0 and the current market capitalization stands at $15.02M. The recent change has given its price a 106.39% lead over SMA 50 and 10.36% lead over its 52-week high. The stock witnessed 104.81% gains, 93.64% gains and 60.15% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found RCON’s volatility during a week at 32.81% and during a month it has been found around 15.98%.Recon Technology, Ltd. 13F Filings
At the end of June reporting period, 1 institutional holders increased their position in Recon Technology, Ltd. (NASDAQ:RCON) by some 1,363 shares, 2 decreased positions by 6,700 and 1 held positions by 8,688. That puts total institutional holdings at 16,751 shares, according to SEC filings. The stock grabbed new institutional investments totaling shares while 2 institutional investors sold out their entire positions totaling 6,700 shares.
The stock climbed higher after news that it has signed a three-year strategic cooperation agreement (“Agreement”) with Beijing OriginWater Purification Engineering Technology Co., Ltd (“BOW Engineering”), a subsidiary of Beijing OriginWater Technology Co. Ltd. (Shenzhen Stock Exchange: 300070) (“BOW”). Pursuant to the Agreement, Recon Technology and BOW Engineering will cooperate to promote advanced sewage treatment technology in Chinese oilfield markets and to provide integrative solutions and services of superior quality and effectiveness to tackle industrial water pollution.
Recon Technology united with BOW Engineering to render effective waste water treatment solution for a PetroChina petroleum refinery earlier this year, and achieved superb results. Based on this prior success, both parties decided that a more comprehensive strategic relationship would be beneficial to their business development in this area.
“We are excited about BOW Engineering’s unique membrane technologies and rich experiences in sewage treatment industry,” said Mr. Shenping Yin, CEO of Recon Technology. “Chinese government as well as large oil companies are dedicated to protecting the environmental during oil production and seeking more efficient techniques and equipment to realize cost-saving and meet increasingly stringent environmental protection requirement. Recon Technology has provided reliable and efficient technologies to China’s major oilfield companies, such as CNPC and Sinopec, for years. Recon Technology has made some strides in oily sewage treatment for last two years. With its abundant market experience, deep insights and visions in oilfield markets, and support of BOW’s team of specialists, we believe Recon will maintain research and technological advantages and deliver better performance.”