The9 Limited (NASDAQ:NCTY) Short Interest Up 19.9% in February

The9 Limited (NASDAQ:NCTY) saw a significant increase in short interest during 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 trading volume, of 119,700 shares, the short-interest ratio is currently 2.0 days. Currently, 2.7% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of The9 from a “hold” rating to a “sell” rating in a report on Thursday, November 21st.

The9 Trading Down 2.3 %

Shares of NCTY traded down $0.27 during midday trading on Tuesday, hitting $11.52. 37,152 shares of the company traded hands, compared to its average volume of 71,994. The9 has a one year low of $4.90 and a one year high of $20.59. The stock has a 50-day moving average of $14.37 and a 200-day moving average of $11.91.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Independent Advisor Alliance boosted its stake in The9 by 17.5% during the third quarter. Independent Advisor Alliance now owns 16,232 shares of the technology company’s stock valued at $110,000 after buying an additional 2,422 shares during the period. Headlands Technologies LLC purchased a new stake in shares of The9 in the 4th quarter valued at about $67,000. Jump Financial LLC bought a new stake in shares of The9 during the 4th quarter valued at about $230,000. Finally, Marshall Wace LLP bought a new stake in shares of The9 during the 4th quarter valued at about $823,000. 0.54% of the stock is currently 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.