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

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

Recon Technology Trading Down 2.8 %

Shares of RCON opened at $2.08 on Friday. Recon Technology has a 12-month low of $1.26 and a 12-month high of $3.70. The firm has a 50-day moving average price of $2.23 and a 200 day moving average price of $2.47. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.67 and a quick ratio of 10.64.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC bought a new stake in Recon Technology, Ltd. (NASDAQ:RCON) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period. 9.47% of the stock is owned by institutional investors and hedge funds.

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.