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Thursday, May 19, 2022

Recon Technology, Ltd. (RCON) Stock Playing Bullish After Hours. What’s Happening.

Recon Technology, Ltd. (RCON) is an oil and gas field service provider in China supplying the largest oil exploration companies with cutting-edge automated technologies. RCON stock swelled by 3.88% to be $1.07 during the regular trading session of April 4. Its price rocketed further as of the writing in the aftermarket session by 25.2%.


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RCON: Financials

RCON released its half-yearly financials on March 30, for the first six months of 2022 ended December 31, 2021.

  • The total revenues in H1 2022 were 4 million versus RMB25.2 million in the same half of 2020 recording a YoY gain of RMB29.2 million or 116.2%.
  • Net earnings per diluted share in H1 2022 were RMB111.4 million 87against a net loss of RMB10.0 million orRMB1.22 in H1 2021 and recorded a decrease of RMB121.4 million in net loss YoY.

RCON: Industry Outlook

RCON belongs to the Oil and Gas equipment and services industry and all the stock in this industry is gaining pace following the growing concerns of the Russia-Ukraine conflict. Oil prices have been soaring up to approximately $100 per barrel, as the Ukrainian invasion by Russia has raised fears about growing inflation and its influence on international economic growth. Oil and Gas sector shares while trading on Monday led the day by up to 5%.

RCON: Company Outlook

Almost all the stocks of this sector are volatile so the analysts are not giving a thumbs up to buy them in general and RCON in specific. It is currently trading -23% below one month high. The public-owned common shares of the company are approximately priced at 27.31 million and the institutional investors hold 16% of its stock.

Conclusion

RCON’s past five days’ stock trend showed a 4% decline in the price and most recently its price surged by more than 25%. The sole reason behind this hike is the Russian invasion of Ukraine, making the oil and gas stock prices volatile. No other recent press release or regulatory filing was reported by the company.

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