StockNews.com Begins Coverage on Recon Technology (NASDAQ:RCON)

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

Recon Technology Trading Up 0.5 %

Shares of RCON opened at $2.09 on Monday. The stock has a fifty day moving average price of $2.21 and a two-hundred day moving average price of $2.49. Recon Technology has a 52-week low of $1.26 and a 52-week 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.

Institutional Investors Weigh In On Recon Technology

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC acquired a new position in shares of Recon Technology, Ltd. (NASDAQ:RCON) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 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 as of its most recent SEC filing. Institutional investors own 9.47% of the company’s stock.

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.