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

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

Recon Technology Stock Down 2.9 %

NASDAQ:RCON opened at $2.38 on Friday. The firm has a 50-day moving average of $2.24 and a two-hundred day moving average of $2.42. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.67 and a quick ratio of 10.64. Recon Technology has a 1-year low of $1.26 and a 1-year high of $4.06.

Institutional Investors Weigh In On 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 third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other 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.