The9 Limited (NASDAQ:NCTY) Short Interest Update

The9 Limited (NASDAQ:NCTY) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 243,900 shares, an increase of 19.9% from the February 13th total of 203,500 shares. Approximately 2.7% of the shares of the stock are short sold. Based on an average daily volume of 119,700 shares, the short-interest ratio is presently 2.0 days.

Hedge Funds Weigh In On The9

Several large investors have recently modified their holdings of NCTY. Headlands Technologies LLC bought a new position in shares of The9 during the 4th quarter valued at approximately $67,000. Independent Advisor Alliance increased its position in shares of The9 by 17.5% during the 3rd quarter. Independent Advisor Alliance now owns 16,232 shares of the technology company’s stock valued at $110,000 after purchasing an additional 2,422 shares during the last quarter. Jump Financial LLC bought a new position in shares of The9 during the 4th quarter valued at approximately $230,000. Finally, Marshall Wace LLP bought a new position in The9 in the 4th quarter valued at $823,000. Institutional investors own 0.54% of the company’s stock.

The9 Stock Performance

NASDAQ:NCTY traded up $0.28 during trading hours on Wednesday, reaching $11.80. The stock had a trading volume of 56,449 shares, compared to its average volume of 72,098. The9 has a 52 week low of $4.90 and a 52 week high of $20.59. The company has a 50 day moving average price of $14.29 and a two-hundred day moving average price of $11.94.

Analysts Set New Price Targets

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

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.