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

Stock analysts at StockNews.com started coverage on shares of Recon Technology (NASDAQ:RCON) in a report issued on Wednesday. The firm set a “sell” rating on the oil and gas company’s stock.

Recon Technology Trading Up 7.7 %

NASDAQ RCON opened at $2.39 on Wednesday. Recon Technology has a 52 week low of $1.26 and a 52 week high of $4.32. 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 stock’s 50-day moving average price is $2.27 and its 200-day moving average price is $2.35.

Hedge Funds Weigh In On Recon Technology

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC bought a new stake in shares of Recon Technology, Ltd. (NASDAQ:RCON) during the third quarter, according to the company in its most recent 13F filing with the Securities and 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 approximately 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.

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.