Recon Technology (NASDAQ:RCON) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Recon Technology (NASDAQ:RCON) in a research note released on Saturday. The firm issued a sell rating on the oil and gas company’s stock.

Recon Technology Price Performance

Shares of RCON opened at $2.18 on Friday. Recon Technology has a twelve month low of $1.26 and a twelve month high of $3.70. The firm’s 50-day moving average is $2.25 and its two-hundred day moving average is $2.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.64 and a current ratio of 10.67.

Institutional Trading of 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 third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 quarter. 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.