The9 Limited (NASDAQ:NCTY – Get Free Report) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 243,900 shares, an increase of 19.9% from the February 13th total of 203,500 shares. Currently, 2.7% of the shares of the company are short sold. Based on an average daily volume of 119,700 shares, the days-to-cover ratio is currently 2.0 days.
The9 Trading Up 2.4 %
NASDAQ:NCTY traded up $0.28 on Wednesday, hitting $11.80. The stock had a trading volume of 56,449 shares, compared to its average volume of 72,098. The9 has a 52-week low of $4.90 and a 52-week high of $20.59. The business’s 50-day simple moving average is $14.29 and its two-hundred day simple moving average is $11.94.
Wall Street Analysts Forecast Growth
Separately, StockNews.com cut The9 from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Independent Advisor Alliance lifted its position in shares of The9 by 17.5% during the 3rd quarter. Independent Advisor Alliance now owns 16,232 shares of the technology company’s stock valued at $110,000 after buying an additional 2,422 shares in the last quarter. Marshall Wace LLP purchased a new position in The9 in the 4th quarter worth approximately $823,000. Jump Financial LLC purchased a new position in The9 in the 4th quarter worth approximately $230,000. Finally, Headlands Technologies LLC purchased a new position in The9 in the 4th quarter worth approximately $67,000. 0.54% of the stock is owned by hedge funds and other institutional investors.
About The9
The9 Limited operates as a cryptocurrency mining business in China, Eastern Europe, Asia, and North America. The company was formerly known as GameNow.net Limited and changed its name to The9 Limited in February 2004. The9 Limited was incorporated in 1999 and is headquartered in Shanghai, the People’s Republic of China.
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