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

StockNews.com assumed coverage on shares of Recon Technology (NASDAQ:RCON) in a research note issued to 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 $2.13 on Monday. Recon Technology has a 12-month low of $1.26 and a 12-month high of $4.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.64 and a current ratio of 10.67. The firm’s 50-day moving average price is $2.53 and its 200-day moving average price is $2.28.

Institutional Trading of Recon Technology

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC purchased a new stake in Recon Technology, Ltd. (NASDAQ:RCON) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC). 9.47% of the stock is currently owned by 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.