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

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

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Recon Technology in a research note on Thursday. They issued a “sell” rating on the stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Sabby Management LLC acquired a new position in shares of Recon Technology in the first quarter worth about $1,353,000. Renaissance Technologies LLC raised its stake in Recon Technology by 10.7% during the first quarter. Renaissance Technologies LLC now owns 689,954 shares of the oil and gas company’s stock valued at $745,000 after buying an additional 66,454 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in Recon Technology by 161.8% during the first quarter. Jane Street Group LLC now owns 43,931 shares of the oil and gas company’s stock valued at $47,000 after buying an additional 27,151 shares in the last quarter. Institutional investors and hedge funds own 9.47% of the company’s stock.

Recon Technology Trading Up 8.8 %

NASDAQ:RCON opened at $0.15 on Thursday. Recon Technology has a one year low of $0.12 and a one year high of $0.47. The business’s 50-day simple moving average is $0.15 and its 200 day simple moving average is $0.22.

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.