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

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

Recon Technology Trading Up 9.4 %

RCON stock opened at $2.45 on Thursday. Recon Technology has a 52-week low of $1.26 and a 52-week high of $4.23. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.67 and a quick ratio of 10.64. The business has a fifty day moving average of $2.23 and a two-hundred day moving average of $2.39.

Hedge Funds Weigh In On Recon Technology

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC acquired a new stake in Recon Technology, Ltd. (NASDAQ:RCON) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 16,807 shares of the oil and gas company’s stock, valued at approximately $48,000. Belvedere Trading LLC owned about 0.21% of Recon Technology at the end of the most recent quarter. Institutional investors 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.