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

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

Recon Technology Trading Up 6.4 %

RCON stock opened at $0.15 on Tuesday. The business’s 50-day moving average price is $0.17 and its two-hundred day moving average price is $0.24. Recon Technology has a 1-year low of $0.13 and a 1-year high of $0.47.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC raised its stake in shares of Recon Technology by 161.8% in the 1st 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 raised its stake in shares of Recon Technology by 846.8% in 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 during the period. Finally, Sabby Management LLC acquired a new stake in shares of Recon Technology in the 1st quarter valued at about $1,353,000. 9.47% of the stock is currently owned by 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.