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

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

Recon Technology Price Performance

Shares of NASDAQ RCON opened at $2.12 on Monday. 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 business’s fifty day simple moving average is $2.50 and its 200-day simple moving average is $2.29. Recon Technology has a 12-month low of $1.26 and a 12-month high of $4.58.

Institutional Investors Weigh In On Recon Technology

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC acquired a new position in shares of Recon Technology, Ltd. (NASDAQ:RCON) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,807 shares of the oil and gas company’s stock, valued at approximately $48,000. Belvedere Trading LLC owned approximately 0.21% of Recon Technology at the end of the most recent quarter. 9.47% of the stock is currently 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.