Recon Technology (NASDAQ:RCON) Receives New Coverage from Analysts at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Recon Technology (NASDAQ:RCON) in a report released on Friday. The brokerage set a “sell” rating on the oil and gas company’s stock.

Recon Technology Stock Performance

Shares of RCON opened at $0.10 on Friday. Recon Technology has a 12-month low of $0.09 and a 12-month high of $0.46. The stock’s 50-day moving average price is $0.15 and its 200 day moving average price is $0.22.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC grew its holdings in shares of Recon Technology by 161.8% in the 1st quarter. Jane Street Group LLC now owns 43,931 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 27,151 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Recon Technology by 846.8% in the first quarter. Renaissance Technologies LLC now owns 1,492,201 shares of the oil and gas company’s stock valued at $511,000 after buying an additional 1,334,601 shares during the last quarter. Finally, Sabby Management LLC bought a new position in shares of Recon Technology in the first quarter worth about $1,353,000. 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.