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

StockNews.com assumed coverage on shares of Recon Technology (NASDAQ:RCON) in a research report released on Wednesday. The brokerage issued a sell rating on the oil and gas company’s stock.

Recon Technology Trading Up 1.3 %

Shares of RCON opened at $2.42 on Wednesday. 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 1 year low of $1.26 and a 1 year high of $4.32. The stock has a 50 day simple moving average of $2.27 and a two-hundred day simple moving average of $2.35.

Institutional Trading of Recon Technology

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC purchased a new stake in shares of Recon Technology, Ltd. (NASDAQ:RCON) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 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 reporting period. 9.47% of the stock is currently owned by institutional investors and hedge funds.

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.