Recon Technology, Ltd. (NASDAQ:RCON) Sees Significant Decline in Short Interest

Recon Technology, Ltd. (NASDAQ:RCON) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 24,700 shares, a drop of 20.1% from the January 15th total of 30,900 shares. Based on an average daily volume of 9,700 shares, the days-to-cover ratio is currently 2.5 days. Approximately 2.5% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Recon Technology in a report on Sunday, February 9th. They issued a “sell” rating for the company.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC bought a new position in shares of Recon Technology, Ltd. (NASDAQ:RCON) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,807 shares of the oil and gas company’s stock, valued at approximately $48,000. Belvedere Trading LLC owned about 0.21% of Recon Technology as of its most recent SEC filing. Institutional investors and hedge funds own 9.47% of the company’s stock.

Recon Technology Stock Up 0.5 %

Shares of RCON traded up $0.01 during mid-day trading on Friday, reaching $2.09. 1,449 shares of the company were exchanged, compared to its average volume of 5,683. Recon Technology has a 52 week low of $1.26 and a 52 week high of $3.70. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.67 and a quick ratio of 10.64. The business has a 50 day simple moving average of $2.21 and a two-hundred day simple moving average of $2.48.

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.