Recon Technology (NASDAQ:RCON) Now Covered by StockNews.com

Analysts at StockNews.com began coverage on shares of Recon Technology (NASDAQ:RCON) in a note issued to investors on Sunday. The brokerage set a “sell” rating on the oil and gas company’s stock.

Recon Technology Stock Down 4.7 %

RCON opened at $2.05 on Friday. 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 $5.34. The stock’s 50 day simple moving average is $2.63 and its 200 day simple moving average is $2.25.

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) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 reporting period. 9.47% of the stock is owned by hedge funds and other institutional investors.

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.