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

Recon Technology, Ltd. (NASDAQ:RCON) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 71,226 shares, a drop of 94.0% from the August 15th total of 1,189,283 shares. Based on an average daily volume of 2,706,362 shares, the short-interest ratio is currently 0.0 days. Currently, 21.8% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Recon Technology to a “hold” rating in a research note on Saturday, September 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Recon Technology in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Recon Technology Stock Performance

Shares of NASDAQ:RCON remained flat at $1.29 during midday trading on Friday. The stock had a trading volume of 115,324 shares, compared to its average volume of 1,639,164. The stock’s fifty day simple moving average is $38.91 and its two-hundred day simple moving average is $121.17. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.23 and a current ratio of 4.24. Recon Technology has a 52 week low of $1.25 and a 52 week high of $447.98.

About Recon Technology

Recon Technology Ltd, through its subsidiaries, specializes in the design, development, manufacturing and sale of nondestructive testing (NDT) equipment and wireless communication products. The company’s NDT portfolio comprises ultrasonic flaw detectors, thickness gauges, phased array systems, eddy current instruments and digital radiography imaging equipment. These solutions enable precision inspection of welds, pipelines, pressure vessels and structural components across a range of industries.

In addition to hardware, Recon Technology provides software for data acquisition, image processing and reporting, as well as calibration, training and technical support services.