Recon Technology (NASDAQ:RCON) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Recon Technology (NASDAQ:RCON) in a research note published on Friday. The brokerage issued a sell rating on the oil and gas company’s stock.

Recon Technology Price Performance

Recon Technology stock opened at $2.38 on Friday. The firm has a fifty day simple moving average of $2.24 and a two-hundred day simple moving average of $2.41. Recon Technology has a twelve month low of $1.26 and a twelve month high of $4.06. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.67 and a quick ratio of 10.64.

Institutional Investors Weigh In On Recon Technology

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC bought a new position in Recon Technology, Ltd. (NASDAQ:RCON) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,807 shares of the oil and gas company’s stock, valued at approximately $48,000. Belvedere Trading LLC owned about 0.21% of Recon Technology at the end of the most recent reporting period. Hedge funds and other institutional investors 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.