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

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

Recon Technology Price Performance

Shares of Recon Technology stock opened at $2.44 on Friday. Recon Technology has a 1 year low of $1.26 and a 1 year high of $5.49. The company has a current ratio of 10.67, a quick ratio of 10.64 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average is $2.78 and its two-hundred day moving average is $2.21.

Hedge Funds Weigh In On Recon Technology

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC purchased a new stake in shares of Recon Technology, Ltd. (NASDAQ:RCON) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission. 9.47% of the stock is owned by 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.