Recon Technology, Ltd. (NASDAQ:RCON) Short Interest Update

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Recon Technology

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC acquired a new position in Recon Technology, Ltd. (NASDAQ:RCON) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter. Hedge funds and other institutional investors own 9.47% of the company’s stock.

Recon Technology Stock Up 2.3 %

Shares of NASDAQ:RCON traded up $0.05 during mid-day trading on Thursday, hitting $2.24. The stock had a trading volume of 2,796 shares, compared to its average volume of 8,860. Recon Technology has a 12-month low of $1.26 and a 12-month high of $4.23. The company has a quick ratio of 10.64, a current ratio of 10.67 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average is $2.24 and its 200-day moving average is $2.38.

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.