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

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

Recon Technology Stock Down 1.8 %

NASDAQ:RCON opened at $2.13 on Thursday. Recon Technology has a one year low of $1.26 and a one year high of $5.49. The company has a current ratio of 10.67, a quick ratio of 10.64 and a debt-to-equity ratio of 0.02. The firm’s 50 day simple moving average is $2.87 and its 200 day simple moving average is $2.19.

Institutional Trading of Recon Technology

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC bought a new position in shares of Recon Technology, Ltd. (NASDAQ:RCON) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 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 at the end of the most recent quarter. 9.47% of the stock is 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.