The9 Limited (NASDAQ:NCTY) Short Interest Update

The9 Limited (NASDAQ:NCTY) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 12,600 shares, a decline of 53.7% from the October 15th total of 27,200 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average trading volume of 50,400 shares, the short-interest ratio is currently 0.3 days.

Institutional Trading of The9

A hedge fund recently raised its stake in The9 stock. Independent Advisor Alliance boosted its position in shares of The9 Limited (NASDAQ:NCTY) by 17.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,232 shares of the technology company’s stock after purchasing an additional 2,422 shares during the period. Independent Advisor Alliance owned about 0.18% of The9 worth $110,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded The9 from a “sell” rating to a “hold” rating in a research note on Wednesday.

The9 Stock Up 7.1 %

NCTY stock traded up $0.67 during mid-day trading on Wednesday, hitting $10.09. The company had a trading volume of 245,782 shares, compared to its average volume of 48,801. The9 has a 12-month low of $4.03 and a 12-month high of $10.09. The company has a 50-day moving average price of $7.67 and a 200 day moving average price of $7.69.

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.