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

StockNews.com assumed coverage on shares of Recon Technology (NASDAQ:RCON) in a report released on Sunday morning. The firm issued a sell rating on the oil and gas company’s stock.

Recon Technology Price Performance

RCON opened at $2.04 on Friday. The stock’s 50 day moving average price is $2.22 and its 200 day moving average price is $2.48. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.64 and a current ratio of 10.67. Recon Technology has a 12 month low of $1.26 and a 12 month high of $3.70.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC purchased a new position in Recon Technology, Ltd. (NASDAQ:RCON) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 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 quarter. 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.