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

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

Recon Technology Stock Up 1.9 %

NASDAQ:RCON opened at $2.12 on Monday. 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 fifty-two week low of $1.26 and a fifty-two week high of $3.70. The firm’s fifty day simple moving average is $2.20 and its 200-day simple moving average is $2.49.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC purchased a new position in Recon Technology, Ltd. (NASDAQ:RCON) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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. Hedge funds and other institutional investors 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.