Recon Technology, Ltd. (NASDAQ:RCON) Sees Large Increase in Short Interest

Recon Technology, Ltd. (NASDAQ:RCON) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 148,800 shares, an increase of 866.2% from the March 31st total of 15,400 shares. Based on an average daily trading volume, of 725,800 shares, the short-interest ratio is presently 0.2 days.

Recon Technology Price Performance

RCON stock remained flat at $0.08 on Thursday. The company had a trading volume of 810,659 shares, compared to its average volume of 623,855. The stock’s 50-day simple moving average is $0.14 and its 200 day simple moving average is $0.21. Recon Technology has a 1 year low of $0.07 and a 1 year high of $0.43.

Recon Technology’s stock is going to reverse split on the morning of Wednesday, May 1st. The 1-18 reverse split was announced on Thursday, April 25th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, April 30th.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Recon Technology in a research report on Friday, April 19th. 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.