• Sun. Apr 21st, 2024

Analysts at StockNews.com Initiate Coverage on Recon Technology (NASDAQ:RCON)

BySamantha Johnson

Mar 10, 2024
Analysts at StockNews.com Initiate Coverage on Recon Technology (NASDAQ:RCON)

StockNews.com investment analysts recently started coverage on Recon Technology (NASDAQ:RCON), assigning a “sell” rating to the oil and gas company’s stock. NASDAQ RCON opened at $0.15 on Friday, with a 50-day moving average price of $0.19 and a 200-day moving average price of $0.26. The company has seen a twelve month low of $0.14 and a twelve month high of $1.13.

In terms of investor activity, several large hedge funds have made moves with Recon Technology. Sabby Management LLC added a new position worth around $1,353,000, while Renaissance Technologies LLC increased its holdings by 10.7% in the 1st quarter. Furthermore, Jane Street Group LLC raised its holdings by 161.8% in the 1st quarter. Overall, 12.76% of the stock is currently owned by hedge funds and other institutional investors.

Recon Technology, Ltd. is a company based in the People’s Republic of China that provides hardware, software, and on-site services to companies in the petroleum mining and extraction industry. Their offerings include equipment, tools, components, and parts related to oilfield production, as well as industrial automation control and information solutions.

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By Samantha Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

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