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

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

Recon Technology Trading Down 6.6 %

Shares of RCON opened at $2.40 on Wednesday. The company has a quick ratio of 10.64, a current ratio of 10.67 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average is $2.93 and its 200-day moving average is $2.16. Recon Technology has a 12-month low of $1.26 and a 12-month high of $5.49.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC bought a new position in shares of Recon Technology, Ltd. (NASDAQ:RCON) during the third quarter, according to its most recent disclosure 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 0.21% of Recon Technology as of its most recent SEC filing. 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.