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 note issued on Tuesday. The firm set a “sell” rating on the oil and gas company’s stock.

Recon Technology Stock Down 2.2 %

RCON stock opened at $2.21 on Tuesday. The firm has a 50-day simple moving average of $2.38 and a two-hundred day simple moving average of $2.31. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.67 and a quick ratio of 10.64. Recon Technology has a one year low of $1.26 and a one year high of $4.35.

Hedge Funds Weigh In On Recon Technology

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC acquired a new position in Recon Technology, Ltd. (NASDAQ:RCON) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and 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 reporting period. Institutional investors and hedge funds own 9.47% of the company’s stock.

About Recon Technology

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.