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

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

Recon Technology Stock Up 12.2 %

RCON stock opened at $0.11 on Friday. The stock’s 50 day simple moving average is $0.15 and its 200 day simple moving average is $0.22. Recon Technology has a fifty-two week low of $0.09 and a fifty-two week high of $0.45.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC raised its stake in Recon Technology by 161.8% during the 1st quarter. Jane Street Group LLC now owns 43,931 shares of the oil and gas company’s stock worth $47,000 after buying an additional 27,151 shares during the period. Renaissance Technologies LLC raised its stake in Recon Technology by 10.7% during the 1st quarter. Renaissance Technologies LLC now owns 689,954 shares of the oil and gas company’s stock worth $745,000 after buying an additional 66,454 shares during the period. Finally, Sabby Management LLC purchased a new stake in shares of Recon Technology in the first quarter worth approximately $1,353,000. 9.47% of the stock is owned by institutional investors and hedge funds.

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.