The9 Limited (NASDAQ:NCTY) Short Interest Up 249.2% in December

The9 Limited (NASDAQ:NCTY) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 125,000 shares, a growth of 249.2% from the November 30th total of 35,800 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average trading volume of 143,200 shares, the short-interest ratio is currently 0.9 days.

Analyst Upgrades and Downgrades

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

Institutional Trading of The9

A hedge fund recently raised its stake in The9 stock. Independent Advisor Alliance boosted its stake in The9 Limited (NASDAQ:NCTY) by 17.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,232 shares of the technology company’s stock after purchasing an additional 2,422 shares during the quarter. Independent Advisor Alliance owned about 0.18% of The9 worth $110,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 0.54% of the stock is owned by institutional investors and hedge funds.

The9 Trading Down 2.2 %

Shares of NCTY traded down $0.36 during midday trading on Friday, hitting $15.71. 128,160 shares of the company traded hands, compared to its average volume of 67,635. The stock has a 50-day moving average of $12.43 and a 200-day moving average of $9.26. The9 has a one year low of $4.03 and a one year high of $20.59.

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.