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

Equities research analysts at StockNews.com initiated coverage on shares of Recon Technology (NASDAQ:RCON) in a report released on Thursday. The brokerage set a “sell” rating on the oil and gas company’s stock.

Recon Technology Stock Up 8.8 %

Shares of RCON stock opened at $0.15 on Thursday. The firm’s 50 day moving average price is $0.15 and its two-hundred day moving average price is $0.22. Recon Technology has a fifty-two week low of $0.12 and a fifty-two week high of $0.47.

Hedge Funds Weigh In On Recon Technology

Several hedge funds and other institutional investors have recently bought and sold shares of RCON. Jane Street Group LLC raised its stake 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 valued at $47,000 after purchasing an additional 27,151 shares during the period. Renaissance Technologies LLC grew its holdings in Recon Technology by 846.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,492,201 shares of the oil and gas company’s stock valued at $511,000 after purchasing an additional 1,334,601 shares in the last quarter. Finally, Sabby Management LLC purchased a new stake in Recon Technology during the 1st quarter worth $1,353,000. 9.47% of the stock is owned by institutional investors and hedge funds.

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.