Recon Technology (NASDAQ:RCON) Earns Sell Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Recon Technology (NASDAQ:RCON) in a research note released on Monday morning. The firm issued a sell rating on the oil and gas company’s stock.

Recon Technology Stock Down 9.0 %

Shares of RCON stock opened at $2.22 on Monday. The stock’s 50-day moving average is $2.96 and its 200 day moving average is $2.12. Recon Technology has a 1-year low of $1.26 and a 1-year high of $5.49.

Institutional Investors Weigh In On Recon Technology

An institutional investor recently bought a new position 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 disclosure with the Securities and Exchange Commission (SEC). The fund purchased 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. 9.47% of the stock is owned by hedge funds and other institutional investors.

Recon Technology Company Profile

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.