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

Recon Technology, Ltd. (NASDAQ:RCON) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 32,400 shares, a decline 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 presently 2.3 days.

Recon Technology Trading Up 9.4 %

Shares of NASDAQ RCON traded up $0.21 during midday trading on Friday, hitting $2.45. 1,888 shares of the stock traded hands, compared to its average volume of 7,852. Recon Technology has a one year low of $1.26 and a one year high of $4.23. The business has a 50 day moving average price of $2.23 and a two-hundred day moving average price of $2.39. The company has a current ratio of 10.67, a quick ratio of 10.64 and a debt-to-equity ratio of 0.02.

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 its most recent 13F filing with the SEC. 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 at the end of the most recent quarter. Hedge funds and other institutional investors own 9.47% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Recon Technology in a report on Thursday. They set a “sell” rating on the stock.

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.