Recon Technology, Ltd. (NASDAQ:RCON) Short Interest Down 44.6% in October

by · The Cerbat Gem

Recon Technology, Ltd. (NASDAQ:RCON – Get Free Report) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 14,800 shares, a decrease of 44.6% from the October 15th total of 26,700 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average daily trading volume, of 25,800 shares, the short-interest ratio is presently 0.6 days.

Recon Technology Price Performance

Recon Technology stock traded down $0.26 during mid-day trading on Wednesday, reaching $2.37. 4,124 shares of the stock traded hands, compared to its average volume of 41,078. The company has a quick ratio of 10.64, a current ratio of 10.67 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average is $2.92 and its 200-day moving average is $2.16. Recon Technology has a 12-month low of $1.26 and a 12-month high of $5.49.

Institutional Inflows and Outflows

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 – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 as of its most recent SEC filing. Institutional investors own 9.47% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Recon Technology in a research report on Wednesday. They issued a “sell” rating for the company.

Read Our Latest Stock Analysis on Recon Technology

About Recon Technology

(Get Free Report)

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.

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