Short Interest in Recon Technology, Ltd. (NASDAQ:RCON) Drops By 22.2%

Recon Technology, Ltd. (NASDAQ:RCON) was the target of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 14,700 shares, a decrease of 22.2% from the February 28th total of 18,900 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average trading volume of 7,300 shares, the days-to-cover ratio is currently 2.0 days.

Recon Technology Trading Up 10.2 %

Shares of NASDAQ:RCON traded up $0.17 during trading hours on Wednesday, hitting $1.83. 29,590 shares of the company’s stock traded hands, compared to its average volume of 36,471. The business has a fifty day moving average price of $1.90 and a 200-day moving average price of $2.33. Recon Technology has a 1 year low of $1.26 and a 1 year high of $3.70. The company has a quick ratio of 10.64, a current ratio of 10.67 and a debt-to-equity ratio of 0.02.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Recon Technology in a research note on Saturday. 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.