Short Interest in Recon Technology, Ltd. (NASDAQ:RCON) Increases By 120.4%

Recon Technology, Ltd. (NASDAQ:RCON) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totaling 62,695 shares, a growth of 120.4% from the June 30th total of 28,443 shares. Based on an average daily volume of 51,324 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.1% of the company’s stock are sold short.

Recon Technology Trading Down 9.1%

Shares of RCON traded down $0.03 during midday trading on Thursday, reaching $0.32. The stock had a trading volume of 30,976 shares, compared to its average volume of 419,998. The company’s fifty day simple moving average is $0.49 and its two-hundred day simple moving average is $0.89. Recon Technology has a 1-year low of $0.32 and a 1-year high of $4.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.24 and a quick ratio of 4.23.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Recon Technology in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Recon Technology Company Profile

Recon Technology Ltd, through its subsidiaries, specializes in the design, development, manufacturing and sale of nondestructive testing (NDT) equipment and wireless communication products. The company’s NDT portfolio comprises ultrasonic flaw detectors, thickness gauges, phased array systems, eddy current instruments and digital radiography imaging equipment. These solutions enable precision inspection of welds, pipelines, pressure vessels and structural components across a range of industries.

In addition to hardware, Recon Technology provides software for data acquisition, image processing and reporting, as well as calibration, training and technical support services.