Recon Technology, Ltd. (NASDAQ:RCON) Short Interest Update

Recon Technology, Ltd. (NASDAQ:RCONGet Rating) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 1,360,000 shares, an increase of 75.8% from the March 31st total of 773,500 shares. Based on an average daily volume of 1,930,000 shares, the days-to-cover ratio is presently 0.7 days.

RCON opened at $0.83 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 8.05 and a current ratio of 8.14. The business has a 50-day moving average of $1.03 and a two-hundred day moving average of $1.43. Recon Technology has a 12 month low of $0.80 and a 12 month high of $17.50.

A number of institutional investors and hedge funds have recently bought and sold shares of RCON. Renaissance Technologies LLC grew its holdings in Recon Technology by 117.5% in the 4th quarter. Renaissance Technologies LLC now owns 623,500 shares of the oil and gas company’s stock valued at $817,000 after buying an additional 336,799 shares during the period. Morgan Stanley purchased a new stake in Recon Technology in the 2nd quarter valued at about $776,000. Goldman Sachs Group Inc. purchased a new stake in Recon Technology in the 4th quarter valued at about $82,000. Virtu Financial LLC purchased a new stake in Recon Technology in the 4th quarter valued at about $59,000. Finally, Wolverine Trading LLC purchased a new stake in Recon Technology in the 3rd quarter valued at about $33,000. Institutional investors own 11.43% of the company’s stock.

Separately, StockNews.com upgraded Recon Technology from a “sell” rating to a “hold” rating in a research report on Friday, April 22nd.

About Recon Technology (Get Rating)

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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