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

Recon Technology, Ltd. (NASDAQ:RCON) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 80,000 shares, a decline of 30.1% from the August 31st total of 114,500 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 839,100 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 839,100 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.8% of the shares of the company are short sold.

Recon Technology Stock Performance

NASDAQ:RCON opened at $1.95 on Wednesday. Recon Technology has a 52 week low of $1.40 and a 52 week high of $7.16. The stock’s fifty day moving average is $2.34 and its two-hundred day moving average is $2.19.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Recon Technology in a report on Saturday, September 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

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.