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

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

Recon Technology Stock Down 1.8 %

NASDAQ:RCON opened at $2.13 on Thursday. Recon Technology has a twelve month low of $1.26 and a twelve month high of $5.49. The company has a quick ratio of 10.64, a current ratio of 10.67 and a debt-to-equity ratio of 0.02. The stock’s 50-day simple moving average is $2.87 and its 200 day simple moving average is $2.19.

Hedge Funds Weigh In On Recon Technology

An institutional investor recently bought a new position 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 the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,807 shares of the oil and gas company’s stock, valued at approximately $48,000. Belvedere Trading LLC owned about 0.21% of Recon Technology as of its most recent filing with the Securities & Exchange Commission. 9.47% of the stock is owned by hedge funds and other institutional investors.

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.