StockNews.com Begins Coverage on Recon Technology (NASDAQ:RCON)

StockNews.com assumed coverage on shares of Recon Technology (NASDAQ:RCON) in a report issued on Sunday. The firm set a “sell” rating on the oil and gas company’s stock.

Recon Technology Trading Up 6.6 %

Shares of NASDAQ RCON opened at $2.18 on Friday. Recon Technology has a 52-week low of $1.26 and a 52-week high of $4.75. The stock has a 50 day moving average price of $2.61 and a 200 day moving average price of $2.27. The company has a current ratio of 10.67, a quick ratio of 10.64 and a debt-to-equity ratio of 0.02.

Institutional Trading of Recon Technology

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC purchased a new stake in Recon Technology, Ltd. (NASDAQ:RCON) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 16,807 shares of the oil and gas company’s stock, valued at approximately $48,000. Belvedere Trading LLC owned approximately 0.21% of Recon Technology as of its most recent filing with the SEC. Institutional investors and hedge funds own 9.47% of the company’s stock.

About Recon Technology

Recon Technology, Ltd. provides hardware, software, and on-site services to companies in the petroleum mining and extraction industry in the People’s Republic of China. The company offers equipment, tools, and other components and parts related to oilfield production and other energy industries; and develops and sells industrial automation control and information solutions.