Short Interest in Recon Technology, Ltd. (NASDAQ:RCON) Increases By 184.5%

Recon Technology, Ltd. (NASDAQ:RCON) was the recipient of a significant increase in short interest in November. As of November 15th, there was short interest totalling 42,100 shares, an increase of 184.5% from the October 31st total of 14,800 shares. Approximately 4.2% of the company’s stock are sold short. Based on an average daily volume of 24,500 shares, the short-interest ratio is presently 1.7 days.

Hedge Funds Weigh In On Recon Technology

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC purchased a new stake in shares of Recon Technology, Ltd. (NASDAQ:RCON) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 16,807 shares of the oil and gas company’s stock, valued at approximately $48,000. Belvedere Trading LLC owned about 0.21% of Recon Technology as of its most recent SEC filing. 9.47% of the stock is owned by institutional investors and hedge funds.

Recon Technology Trading Down 0.4 %

NASDAQ RCON opened at $2.34 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.67 and a quick ratio of 10.64. The stock has a 50-day moving average of $2.81 and a 200-day moving average of $2.20. Recon Technology has a 1-year low of $1.26 and a 1-year high of $5.49.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Recon Technology in a research report on Thursday, November 21st. They issued 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.