The9 Limited (NASDAQ:NCTY - Get Free Report) was the recipient of a large growth in short interest in 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. Based on an average trading volume of 161,600 shares, the short-interest ratio is currently 1.2 days. Approximately 2.1% of the company's stock are short sold.
Analyst Ratings Changes
Separately, StockNews.com lowered The9 from a "hold" rating to a "sell" rating in a research report on Thursday, November 21st.
View Our Latest Research Report on The9
The9 Price Performance
NCTY stock traded down $0.26 during midday trading on Thursday, hitting $14.88. 91,744 shares of the company's stock were exchanged, compared to its average volume of 95,671. The9 has a 12-month low of $4.60 and a 12-month high of $20.59. The firm has a 50 day moving average price of $15.70 and a 200-day moving average price of $11.21.
Institutional Investors Weigh In On The9
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Independent Advisor Alliance increased its holdings in The9 by 17.5% during the 3rd quarter. Independent Advisor Alliance now owns 16,232 shares of the technology company's stock worth $110,000 after purchasing an additional 2,422 shares during the last quarter. Headlands Technologies LLC purchased a new stake in The9 during the 4th quarter worth approximately $67,000. Jump Financial LLC bought a new stake in shares of The9 in the 4th quarter valued at approximately $230,000. Finally, Marshall Wace LLP bought a new stake in shares of The9 in the 4th quarter valued at approximately $823,000. 0.54% of the stock is currently owned by hedge funds and other institutional investors.
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
Before you consider The9, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and The9 wasn't on the list.
While The9 currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
