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

Recon Technology, Ltd. (NASDAQ:RCON) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totaling 62,695 shares, an increase of 120.4% from the June 30th total of 28,443 shares. Based on an average daily volume of 51,324 shares, the short-interest ratio is currently 1.2 days. Approximately 0.1% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

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

Recon Technology Stock Down 7.3%

RCON stock traded down $0.04 during midday trading on Tuesday, hitting $0.44. 90,362 shares of the stock traded hands, compared to its average volume of 423,757. The company has a quick ratio of 4.23, a current ratio of 4.24 and a debt-to-equity ratio of 0.02. The stock’s fifty day simple moving average is $0.50 and its 200-day simple moving average is $0.91. Recon Technology has a 1-year low of $0.32 and a 1-year high of $7.16.

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.