The9 Limited (NASDAQ:NCTY) Sees Significant Drop in Short Interest

The9 Limited (NASDAQ:NCTY) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 10,900 shares, a decline of 22.7% from the May 15th total of 14,100 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 35,000 shares, the days-to-cover ratio is presently 0.3 days.

The9 Price Performance

NCTY stock traded down $0.04 during trading on Friday, hitting $8.48. The company had a trading volume of 35,907 shares, compared to its average volume of 51,423. The firm has a 50-day moving average price of $7.25 and a 200-day moving average price of $6.67. The9 has a 12 month low of $3.33 and a 12 month high of $14.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.37 and a current ratio of 1.37.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of The9 from a “sell” rating to a “hold” rating in a research note on Tuesday, May 28th.

About The9

The9 Limited, together with its subsidiaries, operates as Internet company in the People's Republic of China and internationally. It also involves in the operation of cryptocurrency mining and Non-Fungible Token platform NFTSTAR, a NFT trading and community platform that provides users with purchase, trade, and interactive activities.