Recon Technology receives Nasdaq delisting determination
- Recon Technology's Delisting Notification: Nasdaq notified Recon Technology of the staff's decision to delist its securities due to failing to meet the minimum bid price requirement.
- Appeal and Consolidation: Recon Technology has appealed the delisting determination and expects a consolidation of its Class A ordinary shares to take effect on May 1.
- Stock Performance: Following the news, Recon Technology's stock price dropped by 1% after hours to $0.096.
- Additional Information: More details on Recon Technology can be found regarding a 1-for-18 reverse stock split, Seeking Alpha’s Quant Rating, historical earnings data, and financial information.
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Recon Achieves Milestone: Construction of Chemical Recycling Plant Completed as Project Approaches Production Start
Project Milestone: Recon Technology Ltd. announced the successful topping out of its 40,000-ton-per-year waste plastic chemical recycling project in Shandong, marking a significant step towards equipment installation and commissioning.
Investment and Returns: The company has invested over $15 million into the project, which is expected to generate annual returns of approximately $30 million upon full completion by November 2025.
Technological Innovations: The project utilizes advanced technologies including a dual-process approach of catalytic pyrolysis and catalytic reforming, aimed at enhancing the value of pyrolysis oil produced from difficult-to-recycle plastic waste.
Future Goals: CEO Yin Shenping emphasized the commitment to establishing the facility as a leading benchmark in plastic recycling, focusing on operational efficiency, environmental performance, and compliance with international sustainability certifications.
Analysts’ Opinions Are Mixed on These Energy Stocks: ARC Resources (OtherAETUF) and Recon Technology (RCON)
ARC Resources Analysis: Analysts maintain a Buy rating on ARC Resources with a price target of C$32.00, indicating a strong buy consensus and potential upside from current share prices.
Recon Technology Rating: Recon Technology receives a Hold rating from analysts, reflecting a cautious outlook with no significant growth expectations.
