The9 Limited (NASDAQ:NCTY) Short Interest Up 42.2% in January

The9 Limited (NASDAQ:NCTY) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 190,600 shares, a growth of 42.2% from the January 15th total of 134,000 shares. Based on an average daily volume of 161,600 shares, the days-to-cover ratio is presently 1.2 days. Currently, 2.1% of the company’s stock are sold short.

The9 Trading Down 3.3 %

Shares of NASDAQ:NCTY traded down $0.51 during trading on Friday, hitting $15.10. The company’s stock had a trading volume of 89,150 shares, compared to its average volume of 87,420. The9 has a fifty-two week low of $4.60 and a fifty-two week high of $20.59. The stock’s 50-day moving average price is $15.85 and its two-hundred day moving average price is $11.05.

Analyst Ratings Changes

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

Hedge Funds Weigh In On The9

Institutional investors have recently made changes to their positions in the business. Marshall Wace LLP acquired a new stake in shares of The9 during the fourth quarter worth approximately $823,000. Independent Advisor Alliance grew its holdings in The9 by 17.5% during the 3rd quarter. Independent Advisor Alliance now owns 16,232 shares of the technology company’s stock worth $110,000 after acquiring an additional 2,422 shares in the last quarter. Jump Financial LLC bought a new stake in shares of The9 in the 4th quarter worth about $230,000. Finally, Headlands Technologies LLC acquired a new stake in shares of The9 in the 4th quarter valued at about $67,000. 0.54% of the stock is owned by institutional investors and hedge funds.

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.