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

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

Recon Technology Trading Down 3.4 %

NASDAQ RCON opened at $2.14 on Thursday. The company has a quick ratio of 10.64, a current ratio of 10.67 and a debt-to-equity ratio of 0.02. Recon Technology has a 12-month low of $1.26 and a 12-month high of $5.49. The company has a fifty day simple moving average of $2.85 and a two-hundred day simple moving average of $2.19.

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) in the third quarter, according to its most recent Form 13F filing 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 about 0.21% of Recon Technology at the end of the most recent quarter. 9.47% of the stock is currently owned by institutional investors and hedge funds.

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.