Recon Technology, Ltd. (NASDAQ:RCON) Short Interest Up 495.7% in August

Recon Technology, Ltd. (NASDAQ:RCON) was the target of a large growth in short interest in August. As of August 14th, there was short interest totaling 1,189,283 shares, a growth of 495.7% from the July 30th total of 199,641 shares. Based on an average daily trading volume, of 87,736,023 shares, the short-interest ratio is presently 0.0 days. Currently, 364.8% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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

Recon Technology Trading Down 28.9%

RCON stock opened at $2.04 on Wednesday. The stock has a 50-day simple moving average of $61.59 and a two-hundred day simple moving average of $142.99. Recon Technology has a twelve month low of $2.01 and a twelve month high of $487.00. The company has a quick ratio of 4.23, a current ratio of 4.24 and a debt-to-equity ratio of 0.02.

About Recon Technology

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.