Short Interest in Recon Technology, Ltd. (NASDAQ:RCON) Declines By 11.7%

Recon Technology, Ltd. (NASDAQ:RCON) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 114,700 shares, a decrease of 11.7% from the September 30th total of 129,900 shares. Based on an average daily volume of 33,300 shares, the days-to-cover ratio is presently 3.4 days. Currently, 0.7% of the company’s shares are sold short.

Several research firms recently issued reports on RCON. ValuEngine raised Recon Technology from a “strong sell” rating to a “sell” rating in a research note on Friday, September 27th. Maxim Group reissued a “hold” rating on shares of Recon Technology in a research note on Tuesday, October 1st.

RCON traded down $0.03 during mid-day trading on Monday, hitting $0.65. 300 shares of the stock were exchanged, compared to its average volume of 35,163. The firm’s fifty day moving average is $0.71 and its two-hundred day moving average is $0.76. Recon Technology has a 1-year low of $0.61 and a 1-year high of $1.22. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.32 and a quick ratio of 2.29.

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 hardware related to oilfield production and management, and transportation; and develops and sells industrial automation control and information solutions.

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