Recon Technology, Ltd. (NASDAQ:RCON) Sees Large Increase in Short Interest

Recon Technology, Ltd. (NASDAQ:RCON) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 42,100 shares, an increase of 184.5% from the October 31st total of 14,800 shares. Based on an average daily trading volume, of 24,500 shares, the short-interest ratio is currently 1.7 days. Currently, 4.2% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Recon Technology in a research note on Friday. They set a “sell” rating on the stock.

Recon Technology Stock Up 5.8 %

RCON traded up $0.13 during trading hours on Friday, hitting $2.44. 8,637 shares of the company’s stock were exchanged, compared to its average volume of 39,930. Recon Technology has a 12-month low of $1.26 and a 12-month high of $5.49. The firm has a 50 day moving average of $2.78 and a 200 day moving average of $2.21. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.67 and a quick ratio of 10.64.

Institutional Investors Weigh In On Recon Technology

A hedge fund recently bought a new stake in Recon Technology stock. Belvedere Trading LLC bought a new stake in Recon Technology, Ltd. (NASDAQ:RCON) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter. 9.47% of the stock is currently owned by hedge funds and other institutional investors.

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.