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

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

Recon Technology Stock Up 1.3 %

Shares of NASDAQ RCON opened at $2.42 on Wednesday. Recon Technology has a one year low of $1.26 and a one year high of $4.32. The firm’s 50 day simple moving average is $2.27 and its two-hundred day simple moving average is $2.35. The company has a current ratio of 10.67, a quick ratio of 10.64 and a debt-to-equity ratio of 0.02.

Hedge Funds Weigh In On Recon Technology

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC acquired a new stake in shares of Recon Technology, Ltd. (NASDAQ:RCON) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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. 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.