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

StockNews.com initiated coverage on shares of Recon Technology (NASDAQ:RCON) in a research note published on Friday. The brokerage issued a sell rating on the oil and gas company’s stock.

Recon Technology Trading Down 2.9 %

NASDAQ:RCON opened at $2.38 on Friday. 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 has a 50 day simple moving average of $2.24 and a two-hundred day simple moving average of $2.42. Recon Technology has a 12 month low of $1.26 and a 12 month high of $4.06.

Institutional Inflows and Outflows

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) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing. 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.