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

Stock analysts at StockNews.com began coverage on shares of Recon Technology (NASDAQ:RCON) in a research note issued to investors on Saturday. The brokerage set a “sell” rating on the oil and gas company’s stock.

Recon Technology Price Performance

Recon Technology stock opened at $2.25 on Friday. The firm has a fifty day simple moving average of $2.72 and a two-hundred day simple moving average of $2.24. Recon Technology has a twelve month low of $1.26 and a twelve month high of $5.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.67 and a quick ratio of 10.64.

Hedge Funds Weigh In On Recon Technology

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC acquired a new stake in shares of Recon Technology, Ltd. (NASDAQ:RCON) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 (SEC). Hedge funds and other institutional investors 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.