The9 Limited (NASDAQ:NCTY) Short Interest Update

The9 Limited (NASDAQ:NCTY) saw 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. Based on an average daily volume of 119,700 shares, the days-to-cover ratio is currently 2.0 days. Currently, 2.7% of the shares of the stock are sold short.

The9 Price Performance

Shares of NCTY stock traded up $0.33 during trading hours on Thursday, reaching $12.13. 37,527 shares of the company were exchanged, compared to its average volume of 71,962. The stock’s fifty day moving average is $14.22 and its two-hundred day moving average is $11.94. The9 has a fifty-two week low of $4.90 and a fifty-two week high of $20.59.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of The9 from a “hold” rating to a “sell” rating in a report on Thursday, November 21st.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in shares of The9 in the 4th quarter valued at $67,000. Independent Advisor Alliance boosted its holdings in The9 by 17.5% in the third quarter. Independent Advisor Alliance now owns 16,232 shares of the technology company’s stock valued at $110,000 after acquiring an additional 2,422 shares during the last quarter. Jump Financial LLC acquired a new stake in The9 in the fourth quarter worth about $230,000. Finally, Marshall Wace LLP bought a new stake in The9 during the 4th quarter worth about $823,000. Institutional investors and hedge funds own 0.54% of the company’s stock.

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.