Short Interest in The9 Limited (NASDAQ:NCTY) Rises By 312.1%

The9 Limited (NASDAQ:NCTY - Get Free Report) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 27,200 shares, an increase of 312.1% from the September 30th total of 6,600 shares. Approximately 0.3% of the company's shares are short sold. Based on an average daily trading volume, of 33,700 shares, the days-to-cover ratio is presently 0.8 days.

The9 Stock Performance

Shares of NCTY stock traded down $0.05 during trading hours on Friday, reaching $8.36. The company had a trading volume of 62,941 shares, compared to its average volume of 43,282. The company has a 50 day moving average of $7.34 and a 200 day moving average of $7.48. The9 has a 1-year low of $4.03 and a 1-year high of $10.00.

Analysts Set New Price Targets

Separately, StockNews.com raised The9 from a "sell" rating to a "hold" rating in a research note on Friday, October 18th.

The9 Company Profile

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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