Recon Technology (NASDAQ:RCON) Earns Sell Rating from Analysts at StockNews.com

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

Recon Technology Stock Down 3.0 %

RCON opened at $2.30 on Wednesday. The stock’s 50 day simple moving average is $2.91 and its 200-day simple moving average is $2.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.64 and a current ratio of 10.67. Recon Technology has a 1 year low of $1.26 and a 1 year high of $5.49.

Institutional Trading of 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 & Exchange Commission. The fund 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 at the end of the most recent quarter. Hedge funds and other 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.