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

StockNews.com initiated coverage on shares of Recon Technology (NASDAQ:RCON) in a report issued on Thursday. The firm issued a sell rating on the oil and gas company’s stock.

Recon Technology Price Performance

Shares of NASDAQ:RCON opened at $2.45 on Thursday. The business has a 50-day moving average price of $2.23 and a 200-day moving average price of $2.39. Recon Technology has a 52-week low of $1.26 and a 52-week high of $4.23. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.64 and a current ratio of 10.67.

Hedge Funds Weigh In On Recon Technology

An institutional investor recently bought a new stake in Recon Technology stock. Belvedere Trading LLC purchased a new position in Recon Technology, Ltd. (NASDAQ:RCON) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 quarter. 9.47% of the stock is owned by hedge funds and other institutional investors.

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.