The9 Limited (NASDAQ:NCTY) Sees Large Growth in Short Interest

The9 Limited (NASDAQ:NCTYGet Free Report) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 190,600 shares, a growth of 42.2% from the January 15th total of 134,000 shares. Currently, 2.1% of the company’s stock are short sold. Based on an average daily volume of 161,600 shares, the days-to-cover ratio is currently 1.2 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in The9 in the 4th quarter valued at $67,000. Independent Advisor Alliance grew its holdings in The9 by 17.5% in 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. Jump Financial LLC acquired a new position in The9 in the 4th quarter valued at $230,000. Finally, Marshall Wace LLP acquired a new position in The9 in the 4th quarter valued at $823,000. 0.54% of the stock is owned by institutional investors and hedge funds.

The9 Stock Down 3.3 %

Shares of NCTY stock traded down $0.51 during trading on Friday, reaching $15.10. 89,150 shares of the company’s stock were exchanged, compared to its average volume of 87,420. The9 has a twelve month low of $4.60 and a twelve month high of $20.59. The firm’s fifty day moving average price is $15.85 and its 200-day moving average price is $11.05.

Analyst Ratings Changes

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

Get Our Latest Stock Report on NCTY

The9 Company Profile

(Get Free Report)

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.

Further Reading

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