Recon Technology (NASDAQ:RCON) Earns Sell Rating from Analysts at StockNews.com

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

Recon Technology Stock Performance

Shares of NASDAQ:RCON opened at $0.15 on Tuesday. Recon Technology has a fifty-two week low of $0.13 and a fifty-two week high of $0.47. The firm has a fifty day moving average price of $0.17 and a 200 day moving average price of $0.24.

Hedge Funds Weigh In On Recon Technology

Several institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its holdings in shares of Recon Technology by 10.7% in the 1st quarter. Renaissance Technologies LLC now owns 689,954 shares of the oil and gas company’s stock worth $745,000 after acquiring an additional 66,454 shares during the last quarter. Jane Street Group LLC increased its position in shares of Recon Technology by 161.8% during the first quarter. Jane Street Group LLC now owns 43,931 shares of the oil and gas company’s stock worth $47,000 after acquiring an additional 27,151 shares during the period. Finally, Sabby Management LLC bought a new position in Recon Technology in the first quarter worth approximately $1,353,000. 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.