Recon Technology, Ltd. (NASDAQ:RCON) Sees Significant Drop in Short Interest

Recon Technology, Ltd. (NASDAQ:RCON) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 14,700 shares, a drop of 22.2% from the February 28th total of 18,900 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily volume of 7,300 shares, the days-to-cover ratio is presently 2.0 days.

Recon Technology Price Performance

Shares of RCON stock traded down $0.07 on Monday, hitting $1.52. The company’s stock had a trading volume of 1,425 shares, compared to its average volume of 36,509. The company has a quick ratio of 10.64, a current ratio of 10.67 and a debt-to-equity ratio of 0.02. Recon Technology has a fifty-two week low of $1.26 and a fifty-two week high of $3.70. The firm’s fifty day moving average price is $1.93 and its 200-day moving average price is $2.35.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Recon Technology in a report on Saturday. They set a “sell” rating for the company.

About Recon Technology

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.