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

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

Recon Technology Stock Up 5.8 %

Shares of RCON opened at $2.44 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.67 and a quick ratio of 10.64. The company’s fifty day moving average price is $2.78 and its 200-day moving average price is $2.21. Recon Technology has a 1-year low of $1.26 and a 1-year high of $5.49.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC purchased a new position in shares of Recon Technology, Ltd. (NASDAQ:RCON) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 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 filing with the Securities and Exchange Commission. 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.