Recon Technology (NASDAQ:RCON) Coverage Initiated by Analysts at StockNews.com

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

Recon Technology Stock Up 8.8 %

Shares of Recon Technology stock opened at $0.15 on Thursday. The stock’s fifty day moving average is $0.15 and its two-hundred day moving average is $0.22. Recon Technology has a 52 week low of $0.12 and a 52 week high of $0.47.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in shares of Recon Technology by 10.7% during the first quarter. Renaissance Technologies LLC now owns 689,954 shares of the oil and gas company’s stock valued at $745,000 after buying an additional 66,454 shares during the period. Jane Street Group LLC increased its position in Recon Technology by 161.8% during 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. Finally, Sabby Management LLC bought 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 hedge funds and other institutional investors.

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.