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

StockNews.com initiated coverage on shares of Recon Technology (NASDAQ:RCON) in a report issued on Thursday. The brokerage set a “sell” rating on the oil and gas company’s stock.

Recon Technology Stock Down 1.4 %

Shares of NASDAQ RCON opened at $2.19 on Thursday. The company has a 50 day simple moving average of $2.25 and a two-hundred day simple moving average of $2.38. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.64 and a current ratio of 10.67. Recon Technology has a 12 month low of $1.26 and a 12 month high of $4.30.

Institutional Investors Weigh In On Recon Technology

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC acquired a new stake in Recon Technology, Ltd. (NASDAQ:RCON) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 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 SEC filing. Institutional investors and hedge funds 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.