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

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

Recon Technology Stock Performance

NASDAQ:RCON opened at $2.08 on Monday. The company’s fifty day moving average price is $2.20 and its 200-day moving average price is $2.49. Recon Technology has a 1-year low of $1.26 and a 1-year high of $3.70. The company has a current ratio of 10.67, a quick ratio of 10.64 and a debt-to-equity ratio of 0.02.

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 shares of Recon Technology, Ltd. (NASDAQ:RCON) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. 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. 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.