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

StockNews.com assumed coverage on shares of Recon Technology (NASDAQ:RCONFree Report) in a research report report published on Wednesday morning. The brokerage issued a sell rating on the oil and gas company’s stock.

Recon Technology Price Performance

RCON opened at $0.14 on Wednesday. Recon Technology has a 52-week low of $0.12 and a 52-week high of $0.47. The stock’s 50 day moving average price is $0.16 and its 200-day moving average price is $0.23.

Institutional Investors Weigh In On Recon Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC grew its stake in Recon Technology by 161.8% in the first 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 period. Renaissance Technologies LLC grew its stake in 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 worth $511,000 after purchasing an additional 1,334,601 shares during the period. Finally, Sabby Management LLC purchased a new stake in Recon Technology in the first quarter worth $1,353,000. 9.47% of the stock is owned by hedge funds and other institutional investors.

About Recon Technology

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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.

Further Reading

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