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

The9 Limited (NASDAQ:NCTYGet Free Report) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 125,000 shares, an increase of 249.2% from the November 30th total of 35,800 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 143,200 shares, the short-interest ratio is currently 0.9 days.

Hedge Funds Weigh In On The9

A hedge fund recently raised its stake in The9 stock. Independent Advisor Alliance raised its position in shares of The9 Limited (NASDAQ:NCTYFree Report) by 17.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,232 shares of the technology company’s stock after acquiring an additional 2,422 shares during the period. Independent Advisor Alliance owned approximately 0.18% of The9 worth $110,000 as of its most recent filing with the Securities & Exchange Commission. 0.54% of the stock is currently owned by hedge funds and other institutional investors.

The9 Trading Down 2.2 %

The9 stock traded down $0.36 during midday trading on Friday, hitting $15.71. The stock had a trading volume of 128,160 shares, compared to its average volume of 67,635. The9 has a 52-week low of $4.03 and a 52-week high of $20.59. The firm’s fifty day moving average is $12.43 and its two-hundred day moving average is $9.26.

Analyst Ratings Changes

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

View Our Latest Research Report on The9

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.

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