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

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

Recon Technology Trading Up 5.6 %

RCON opened at $2.44 on Friday. The company has a fifty day moving average of $2.78 and a two-hundred day moving average of $2.22. The company has a quick ratio of 10.64, a current ratio of 10.67 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 $5.49.

Hedge Funds Weigh In On Recon Technology

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

Recon Technology Company Profile

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.