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

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

Recon Technology Trading Down 0.7 %

Shares of Recon Technology stock opened at $2.08 on Monday. The firm has a 50-day simple moving average of $2.20 and a two-hundred day simple moving average of $2.49. The company has a current ratio of 10.67, a quick ratio of 10.64 and a debt-to-equity ratio of 0.02. Recon Technology has a fifty-two week low of $1.26 and a fifty-two week high of $3.70.

Hedge Funds Weigh In On Recon Technology

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC bought a new position in shares of Recon Technology, Ltd. (NASDAQ:RCON) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 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. 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.