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 issued on Tuesday. The brokerage issued a sell rating on the oil and gas company’s stock.

Recon Technology Stock Up 0.3 %

RCON stock opened at $1.96 on Tuesday. Recon Technology has a 12 month low of $1.26 and a 12 month high of $3.70. 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 firm has a 50 day simple moving average of $2.18 and a 200 day simple moving average of $2.49.

Hedge Funds Weigh In On Recon Technology

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC purchased a new position in Recon Technology, Ltd. (NASDAQ:RCON) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 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. Hedge funds and other 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.