Recon Technology, Ltd. (NASDAQ:RCON) Short Interest Down 20.1% in January

Recon Technology, Ltd. (NASDAQ:RCON) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 24,700 shares, a decline of 20.1% from the January 15th total of 30,900 shares. Based on an average trading volume of 9,700 shares, the days-to-cover ratio is presently 2.5 days. Currently, 2.5% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Recon Technology in a report on Monday. They issued a “sell” rating on the stock.

Hedge Funds 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 Recon Technology, Ltd. (NASDAQ:RCON) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 16,807 shares of the oil and gas company’s stock, valued at approximately $48,000. Belvedere Trading LLC owned 0.21% of Recon Technology as of its most recent filing with the SEC. 9.47% of the stock is currently owned by institutional investors and hedge funds.

Recon Technology Stock Up 0.5 %

Shares of NASDAQ:RCON opened at $2.09 on Monday. The company’s 50-day moving average is $2.21 and its 200 day moving average is $2.48. 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 fifty-two week low of $1.26 and a fifty-two week high of $3.70.

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.