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

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Recon Technology, Ltd. (NASDAQ:RCON) saw a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 660,800 shares, a drop of 27.6% from the March 31st total of 912,500 shares. Approximately 4.1% of the company’s shares are sold short. Based on an average daily volume of 2,050,000 shares, the short-interest ratio is currently 0.3 days.

NASDAQ:RCON traded up $0.30 during trading hours on Tuesday, reaching $9.05. 9,012 shares of the company were exchanged, compared to its average volume of 1,820,298. The stock has a 50 day simple moving average of $6.50 and a 200 day simple moving average of $2.91. Recon Technology has a 52-week low of $0.75 and a 52-week high of $9.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.95 and a current ratio of 1.98.

A hedge fund recently raised its stake in Recon Technology stock. Virtu Financial LLC grew its holdings in Recon Technology, Ltd. (NASDAQ:RCON) by 74.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,955 shares of the oil and gas company’s stock after acquiring an additional 26,510 shares during the period. Virtu Financial LLC owned 0.35% of Recon Technology worth $91,000 as of its most recent SEC filing. 1.47% of the stock is currently owned by institutional investors and hedge funds.

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 hardware related to oilfield production and management, and transportation; and develops and sells industrial automation control and information solutions.

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