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

StockNews.com started coverage on shares of Recon Technology (NASDAQ:RCONFree Report) in a report published on Sunday. The brokerage issued a sell rating on the oil and gas company’s stock.

Recon Technology Price Performance

Shares of RCON opened at $2.07 on Friday. Recon Technology has a 52 week low of $1.26 and a 52 week high of $4.75. 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 company’s 50 day moving average price is $2.59 and its 200 day moving average price is $2.27.

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 stake in Recon Technology, Ltd. (NASDAQ:RCONFree Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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. 9.47% of the stock is currently owned by institutional investors.

Recon Technology Company Profile

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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.

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