Short Interest in Recon Technology, Ltd. (NASDAQ:RCON) Drops By 17.8%

Recon Technology, Ltd. (NASDAQ:RCON) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 32,400 shares, a decrease of 17.8% from the December 15th total of 39,400 shares. Based on an average daily trading volume, of 14,100 shares, the days-to-cover ratio is presently 2.3 days. Approximately 3.2% of the company’s stock are sold short.

Recon Technology Stock Performance

RCON traded up $0.05 during trading on Thursday, reaching $2.24. 2,796 shares of the stock traded hands, compared to its average volume of 8,860. The stock’s 50-day simple moving average is $2.24 and its two-hundred day simple moving average is $2.38. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.67 and a quick ratio of 10.64. Recon Technology has a fifty-two week low of $1.26 and a fifty-two week high of $4.23.

Institutional Investors Weigh In On Recon Technology

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC acquired a new stake in shares of Recon Technology, Ltd. (NASDAQ:RCON) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 16,807 shares of the oil and gas company’s stock, valued at approximately $48,000. Belvedere Trading LLC owned approximately 0.21% of Recon Technology as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 9.47% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Recon Technology in a research note on Thursday. They set a “sell” rating for the company.

Recon Technology Company Profile

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.