Recon Technology (NASDAQ:RCON) stock is soaring higher on Wednesday despite a lack of news concerning the company.

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What is worth noting is that RCON stock is experiencing heavy trading this morning. As of this writing, more than 20 million shares of the stock have changed hands. That’s a massive increase over its daily average trading volume of about 697,000 shares.

With more investors taking an interest in RCON stock, there’s sure to be some wanting to know more about the company. We can help with a quick primer below.

• Recon Technology is a China-based company focused on the development and marketing of automated oilfield services and products.
• It markets these to Chinese oil companies to increase their efficiency and productivity.
• This is possible via its automated data collection systems, which work in real-time and collect data remotely.
• Recon Technology has a particular interest in developing technology for fracturing shale.
• The company notes that shale is a clean fuel source that could benefit China by reducing its reliance on toxic pollutants.

• This aligns with the Chinese government’s goal of increasing power from shale gas to 8% by 2030.
• It also works with CNPC and Sinopec (NYSE:SNP), which are two of China’s leading state-owned oil and gas companies.
• Recon Technology is the first Chinese oil and gas service company that doesn’t belong by the state to be listed on the Nasdaq.
• The company was founded in 2007 and went public in 2009.

RCON stock was up 40.8% as of Wednesday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.