Recon Technology, Ltd. (NASDAQ:RCON) Stock Short Interest Jumps 153.8%

by · The Markets Daily

Recon Technology, Ltd. (NASDAQ:RCON – Get Free Report) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 107,843 shares, an increase of 153.8% from the September 30th total of 42,488 shares. Approximately 33.1% of the shares of the company are short sold. Based on an average daily trading volume, of 214,921 shares, the short-interest ratio is currently 0.5 days.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RCON shares. Wall Street Zen downgraded shares of Recon Technology from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Recon Technology in a research report on Friday, September 4th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, Recon Technology presently has an average rating of “Sell”.

Get Our Latest Research Report on Recon Technology

Recon Technology Trading Down 5.5%

RCON traded down $0.06 during midday trading on Friday, reaching $0.98. 25,578 shares of the company’s stock traded hands, compared to its average volume of 145,136. The firm has a fifty day moving average of $1.32 and a two-hundred day moving average of $120.59. Recon Technology has a 52 week low of $0.88 and a 52 week high of $370.08.

Recon Technology Company Profile

(Get Free Report)

Recon Technology, Ltd. is a China-based oilfield services and equipment company that supports petroleum exploration, production and processing activities. The company provides hardware, software and technical services designed to improve automation, efficiency and operational control at oil and gas facilities.

Its offerings have included oilfield production automation systems, electrical and instrumentation equipment, industrial control solutions, and related engineering and maintenance services.

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