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

Recon Technology, Ltd. (NASDAQ:RCON) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 148,800 shares, an increase of 866.2% from the March 31st total of 15,400 shares. Based on an average trading volume of 725,800 shares, the days-to-cover ratio is presently 0.2 days.

Recon Technology Price Performance

Recon Technology stock remained flat at $0.08 during midday trading on Thursday. 810,659 shares of the company traded hands, compared to its average volume of 623,855. The company has a 50-day simple moving average of $0.14 and a 200 day simple moving average of $0.21. Recon Technology has a 12-month low of $0.07 and a 12-month high of $0.43.

Recon Technology shares are going to reverse split on the morning of Wednesday, May 1st. The 1-18 reverse split was announced on Thursday, April 25th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, April 30th.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Recon Technology in a research note on Friday, April 19th. They set a “sell” rating on the stock.

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.