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

Equities researchers at StockNews.com started coverage on shares of Recon Technology (NASDAQ:RCON) in a report issued on Monday. The firm set a “sell” rating on the oil and gas company’s stock.

Recon Technology Price Performance

NASDAQ RCON opened at $2.12 on Monday. The firm’s fifty day moving average is $2.50 and its two-hundred day moving average is $2.29. Recon Technology has a one year low of $1.26 and a one year high of $4.58. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.64 and a current ratio of 10.67.

Institutional Trading of Recon Technology

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC purchased a new position in shares of Recon Technology, Ltd. (NASDAQ:RCON) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period. 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.