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

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

Recon Technology Price Performance

Shares of RCON opened at $2.24 on Thursday. The firm’s 50-day moving average is $2.24 and its two-hundred day moving average is $2.38. Recon Technology has a twelve month low of $1.26 and a twelve month high of $4.23. 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

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC purchased a new position in shares of Recon Technology, Ltd. (NASDAQ:RCON) in the 3rd quarter, according to the company in its most recent disclosure 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 about 0.21% of Recon Technology as of its most recent SEC filing. Institutional investors and hedge funds 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.