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

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

Recon Technology Price Performance

NASDAQ:RCON opened at $2.12 on Monday. The company has a quick ratio of 10.64, a current ratio of 10.67 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average price is $2.48 and its 200-day moving average price is $2.29. Recon Technology has a 1-year low of $1.26 and a 1-year high of $4.58.

Institutional Trading of Recon Technology

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC purchased a new position in Recon Technology, Ltd. (NASDAQ:RCON) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 16,807 shares of the oil and gas company’s stock, valued at approximately $48,000. Belvedere Trading LLC owned approximately 0.21% of Recon Technology at the end of the most recent reporting period. 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.