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

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

Recon Technology Stock Up 5.6 %

Recon Technology stock opened at $2.44 on Friday. The company’s 50 day moving average is $2.78 and its two-hundred day moving average is $2.22. Recon Technology has a 52-week low of $1.26 and a 52-week high of $5.49. The company has a current ratio of 10.67, a quick ratio of 10.64 and a debt-to-equity ratio of 0.02.

Hedge Funds Weigh In On Recon Technology

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC bought a new stake in Recon Technology, Ltd. (NASDAQ:RCON) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 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 as of its most recent filing with the Securities and Exchange Commission. 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.