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

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

Recon Technology Trading Up 1.3 %

RCON stock opened at $2.42 on Wednesday. The stock has a 50-day simple moving average of $2.27 and a two-hundred day simple moving average of $2.35. Recon Technology has a twelve month low of $1.26 and a twelve month high of $4.32. The company has a quick ratio of 10.64, a current ratio of 10.67 and a debt-to-equity ratio of 0.02.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC acquired a new position in Recon Technology, Ltd. (NASDAQ:RCON) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 16,807 shares of the oil and gas company’s stock, valued at approximately $48,000. Belvedere Trading LLC owned approximately 0.21% of Recon Technology as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 9.47% of the company’s stock.

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.