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

StockNews.com started coverage on shares of Recon Technology (NASDAQ:RCON) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the oil and gas company’s stock.

Recon Technology Stock Performance

Shares of RCON stock opened at $2.64 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.67 and a quick ratio of 10.64. The firm has a 50-day moving average price of $2.95 and a 200 day moving average price of $2.13. Recon Technology has a twelve month low of $1.26 and a twelve month high of $5.49.

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:RCON) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 16,807 shares of the oil and gas company’s stock, valued at approximately $48,000. Belvedere Trading LLC owned 0.21% of Recon Technology as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 9.47% of the company’s stock.

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.