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

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

Recon Technology Stock Up 7.7 %

NASDAQ RCON opened at $2.39 on Wednesday. Recon Technology has a 1-year low of $1.26 and a 1-year high of $4.32. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.67 and a quick ratio of 10.64. The business’s fifty day moving average price is $2.27 and its 200-day moving average price is $2.35.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC acquired a new position in 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 about 0.21% of Recon Technology at the end of the most recent quarter. Hedge funds and other institutional investors 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.