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

Recon Technology, Ltd. (NASDAQ:RCON) saw a significant drop in short interest in January. As of January 15th, there was short interest totalling 32,400 shares, a drop of 17.8% from the December 31st total of 39,400 shares. Currently, 3.2% of the shares of the stock are short sold. Based on an average trading volume of 14,100 shares, the short-interest ratio is currently 2.3 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Recon Technology in a research note on Friday, January 24th. They issued a “sell” rating on the stock.

Institutional Inflows and Outflows

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) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 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. 9.47% of the stock is currently owned by institutional investors and hedge funds.

Recon Technology Stock Up 0.9 %

Recon Technology stock traded up $0.02 during midday trading on Thursday, reaching $2.19. 5,149 shares of the stock traded hands, compared to its average volume of 7,908. 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 12 month low of $1.26 and a 12 month high of $3.70. The stock’s fifty day moving average is $2.25 and its 200-day moving average is $2.44.

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.