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

Equities research analysts at StockNews.com assumed coverage on shares of Recon Technology (NASDAQ:RCON) in a research note issued to investors on Sunday. The brokerage set a “sell” rating on the oil and gas company’s stock.

Recon Technology Trading Up 5.5 %

Shares of Recon Technology stock opened at $0.29 on Friday. Recon Technology has a 52 week low of $0.21 and a 52 week high of $2.13. The firm’s 50 day moving average is $0.30 and its two-hundred day moving average is $0.35.

Institutional Investors Weigh In On Recon Technology

Large investors have recently modified their holdings of the company. Jane Street Group LLC boosted its holdings in shares of 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 acquiring an additional 27,151 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Recon Technology by 10.7% in the first quarter. Renaissance Technologies LLC now owns 689,954 shares of the oil and gas company’s stock valued at $745,000 after acquiring an additional 66,454 shares during the period. Finally, Sabby Management LLC acquired a new stake in shares of Recon Technology in the first quarter valued at approximately $1,353,000. 12.76% of the stock is owned by institutional investors and hedge funds.

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.