Recon Technology Ltd. (RCON) shares have gained 12.56% at $1.24 in Monday’s session. Recon (RCON) stock finished the last trading session at $1.11. The stock recorded a trading volume of 2.03 million shares, which is below the average daily trading volume published for the last 50 days of 0.77 million shares.
The shares of Recon have advanced 23.47% in the last five days; however, they have gained 6.73% over the last month. The stock price has shed -36.21% over the last three months and has lost -15.27 percent so far this year. RCON stock has spiked after signing several contracts.
Which agreements does Recon Technology have marked?
Recon (RCON) is China’s first NASDAQ-recorded non-state-possessed oil and gas field administration organization. RCON supplies China’s biggest oil investigation organizations, Sinopec (NYSE: SNP) and The China National Petroleum Corporation (“CNPC”), with cutting edge mechanized innovations, effective get-together and transportation hardware and repository feeling measure for expanding oil extraction levels, diminishing pollutants and bringing down creation costs. As the years progressed, RCON has taken driving situations on a few fragmented markets of the oil and gas field administration industry.
Recon (RCON) this month declared a few agreements marked as of late by its homegrown VIE organizations and revealed the advancement on its business portions such long ways for the year 2022:
- For its computerization business section, RCON was granted RMB3.26 million in agreements by the Shenhua Group in January and February.
- For its gear and embellishments business portions, Recon won RMB2.39 million in agreements in January and February, which incorporate agreements for heaters frill and electric submarine advancing depression siphon; and
- Online exchanges through FGS’ digitization administrations for service stations for the year 2022 have likewise been 100 percent expanded year-to-year (“YoY”).
How RCON is moving ahead?
- Since the ascent in oil and gas costs from the year 2021, RCON’s significant clients, China’s oil organizations’ exhibitions have been improving, Recon’s business is additionally profiting from this pattern.
- As far as the general requests and business volumes, RCON’s gross incomes from its different activities have recuperated to pre-2020 levels.
- For the most part, while the main quarter is a slow time of year for Recon, it saw numerous new open doors and the orders got for January and February have been multiplied YoY.
- This is somewhat because of expanded market interest, yet additionally added to items and administrations continually being improved and upgraded.
RCON’s new strategy
Tending to various requests by the investors about the organization’s exhibition, Recon (RCON) chose to expand its correspondence with financial backers from 2022. RCON likewise began gaining ordinary divulgence about business headway and agreements data to assist financial backers with knowing in time what’s going on for the Company.
