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

StockNews.com initiated coverage on shares of Recon Technology (NASDAQ:RCON) in a report released on Wednesday morning. The firm issued a sell rating on the oil and gas company’s stock.

Recon Technology Stock Performance

NASDAQ RCON opened at $2.02 on Wednesday. Recon Technology has a 52-week low of $1.26 and a 52-week high of $5.49. The firm has a 50-day moving average of $2.89 and a 200-day moving average of $2.17. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.64 and a current ratio of 10.67.

Hedge Funds Weigh In On Recon Technology

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC purchased a new stake in Recon Technology, Ltd. (NASDAQ:RCON) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 16,807 shares of the oil and gas company’s stock, valued at approximately $48,000. Belvedere Trading LLC owned 0.21% of Recon Technology at the end of the most recent reporting period. Hedge funds and other institutional investors 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.