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

Recon Technology, Ltd. (NASDAQ:RCON) saw a large decrease in short interest in March. As of March 31st, there was short interest totalling 15,400 shares, a decrease of 43.0% from the March 15th total of 27,000 shares. Based on an average daily trading volume, of 233,800 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On Recon Technology

A number of hedge funds have recently modified their holdings of RCON. Renaissance Technologies LLC grew its holdings in shares of Recon Technology by 10.7% during the 1st quarter. Renaissance Technologies LLC now owns 689,954 shares of the oil and gas company’s stock worth $745,000 after purchasing an additional 66,454 shares during the period. Jane Street Group LLC grew its holdings in shares of Recon Technology by 161.8% during the 1st quarter. Jane Street Group LLC now owns 43,931 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 27,151 shares during the period. Finally, Sabby Management LLC purchased a new position in shares of Recon Technology during the 1st quarter worth $1,353,000. 9.47% of the stock is currently owned by hedge funds and other institutional investors.

Recon Technology Trading Up 8.8 %

NASDAQ RCON opened at $0.15 on Thursday. Recon Technology has a twelve month low of $0.12 and a twelve month high of $0.47. The stock has a fifty day simple moving average of $0.15 and a 200-day simple moving average of $0.22.

Analyst Ratings Changes

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

Recon Technology Company Profile

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.