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

Recon Technology, Ltd. (NASDAQ:RCON) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 14,800 shares, a drop of 44.6% from the October 15th total of 26,700 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 25,800 shares, the days-to-cover ratio is currently 0.6 days.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Recon Technology in a research note on Wednesday. They issued a “sell” rating on the stock.

Recon Technology Stock Performance

Recon Technology stock traded down $0.26 on Wednesday, hitting $2.37. The company’s stock had a trading volume of 4,124 shares, compared to its average volume of 41,078. The company has a current ratio of 10.67, a quick ratio of 10.64 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average price of $2.92 and a 200-day moving average price of $2.16. Recon Technology has a one year low of $1.26 and a one year high of $5.49.

Institutional Trading of Recon Technology

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC bought a new position in shares of Recon Technology, Ltd. (NASDAQ:RCON) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 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 filing with the Securities & Exchange Commission. 9.47% of the stock is owned by institutional investors.

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.