The9 Limited (NASDAQ:NCTY) Short Interest Update

The9 Limited (NASDAQ:NCTY) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 12,600 shares, a drop of 53.7% from the October 15th total of 27,200 shares. Based on an average daily volume of 50,400 shares, the short-interest ratio is currently 0.3 days. Approximately 0.2% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of The9 from a “sell” rating to a “hold” rating in a research note on Wednesday.

The9 Trading Up 7.1 %

NASDAQ:NCTY traded up $0.67 during midday trading on Wednesday, reaching $10.09. 245,782 shares of the stock traded hands, compared to its average volume of 48,801. The9 has a 12-month low of $4.03 and a 12-month high of $10.09. The business has a 50-day moving average of $7.67 and a two-hundred day moving average of $7.69.

Institutional Investors Weigh In On The9

An institutional investor recently raised its position in The9 stock. Independent Advisor Alliance boosted its position in shares of The9 Limited (NASDAQ:NCTY) by 17.5% in 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 0.18% of The9 worth $110,000 as of its most recent filing with the Securities & Exchange Commission. 0.54% of the stock is owned by hedge funds and other institutional investors.

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.