5 Worst Performing Energy Stocks in 2023

2. Recon Technology, Ltd. (NASDAQ:RCON)

Year To Date Share Price Losses: 71.43%

Recon Technology, Ltd. (NASDAQ:RCON) is a small Chinese energy company that provides equipment such as furnaces, burners, and technologies used in oil production through fracturing. Its revenue dropped by 16.3% annually for the six months ending in June along with the year ago net income turning into a loss.

Insider Monkey dug through 943 hedge funds for their March quarter of 2023 shareholdings and discovered that two had bought the firm’s shares. Out of these,  Recon Technology, Ltd. (NASDAQ:RCON)’s biggest stakeholder is Hal Mintz’s Sabby Capital since it owns 3.9 million shares that are worth $1.3 million.

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