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

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

Recon Technology Stock Performance

Shares of Recon Technology stock opened at $1.91 on Tuesday. Recon Technology has a 52 week low of $1.26 and a 52 week high of $3.70. The stock has a 50 day moving average price of $2.19 and a two-hundred day moving average price of $2.49. 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 Inflows and Outflows

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC bought a new position in shares of Recon Technology, Ltd. (NASDAQ:RCON) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 9.47% of the company’s stock.

Recon Technology Company Profile

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.