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

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

Recon Technology Stock Performance

Shares of NASDAQ RCON opened at $2.18 on Friday. Recon Technology has a 12 month low of $1.26 and a 12 month high of $3.70. 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 business has a 50-day moving average of $2.25 and a 200-day moving average of $2.44.

Institutional Trading of Recon Technology

A hedge fund recently bought a new stake 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). Institutional investors 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.