The9 Limited (NASDAQ:NCTY – Get Free Report) saw a large increase in short interest in the month of 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. Based on an average daily volume of 119,700 shares, the days-to-cover ratio is presently 2.0 days. Currently, 2.7% of the shares of the company are sold short.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of NCTY. Marshall Wace LLP bought a new stake in The9 in the 4th quarter valued at $823,000. Independent Advisor Alliance boosted 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 acquiring an additional 2,422 shares in the last quarter. Jump Financial LLC bought a new stake in The9 in the fourth quarter valued at about $230,000. Finally, Headlands Technologies LLC acquired a new position in The9 in the fourth quarter worth about $67,000. 0.54% of the stock is owned by institutional investors.
The9 Price Performance
Shares of NASDAQ:NCTY traded up $0.33 during trading on Thursday, hitting $12.13. 37,527 shares of the stock were exchanged, compared to its average volume of 71,962. The9 has a 1-year low of $4.90 and a 1-year high of $20.59. The company’s fifty day simple moving average is $14.22 and its 200-day simple moving average is $11.94.
Analysts Set New Price Targets
Read Our Latest Stock Analysis on NCTY
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.
See Also
- Five stocks we like better than The9
- Technology Stocks Explained: Here’s What to Know About Tech
- Everything About Amazon Stock Signals a Buy—Time to Load Up?
- The Role Economic Reports Play in a Successful Investment Strategy
- 5 Reasons Five Below’s Stock Price Is Heading Higher This Year
- What is Forex and How Does it Work?
- Broadcom: Why the Chip Stock Remains a Top Long-Term AI Play
Receive News & Ratings for The9 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The9 and related companies with MarketBeat.com's FREE daily email newsletter.
