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

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

Recon Technology Price Performance

Recon Technology stock opened at $0.11 on Friday. The firm has a 50 day simple moving average of $0.15 and a 200-day simple moving average of $0.21. Recon Technology has a 1-year low of $0.09 and a 1-year high of $0.45.

Institutional Trading of Recon Technology

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC raised its position in Recon Technology by 161.8% in the first quarter. Jane Street Group LLC now owns 43,931 shares of the oil and gas company’s stock valued at $47,000 after purchasing an additional 27,151 shares during the period. Renaissance Technologies LLC lifted its holdings in Recon Technology by 10.7% during the 1st quarter. Renaissance Technologies LLC now owns 689,954 shares of the oil and gas company’s stock worth $745,000 after buying an additional 66,454 shares in the last quarter. Finally, Sabby Management LLC acquired a new position in shares of Recon Technology in the first quarter worth $1,353,000. 9.47% of the stock is currently owned by hedge funds and other institutional investors.

Recon Technology Company Profile

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.