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

Recon Technology, Ltd. (NASDAQ:RCON) saw a significant growth in short interest in June. As of June 15th, there was short interest totaling 74,309 shares, a growth of 367.0% from the May 31st total of 15,912 shares. Based on an average daily trading volume, of 133,593 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.1% of the company’s shares are sold short.

Recon Technology Stock Performance

Shares of RCON stock opened at $0.41 on Monday. Recon Technology has a 1-year low of $0.38 and a 1-year high of $7.16. The company has a current ratio of 4.24, a quick ratio of 4.23 and a debt-to-equity ratio of 0.02. The stock’s fifty day simple moving average is $0.69 and its 200-day simple moving average is $1.05.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Recon Technology in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Recon Technology Company Profile

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.