The9 Limited (NASDAQ:NCTY) Short Interest Update

The9 Limited (NASDAQ:NCTY) was the target of a large growth in short interest in June. As of June 30th, there was short interest totalling 24,800 shares, a growth of 651.5% from the June 15th total of 3,300 shares. Based on an average trading volume of 36,200 shares, the short-interest ratio is currently 0.7 days. Currently, 0.3% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded The9 from a “sell” rating to a “hold” rating in a research report on Tuesday, May 28th.

The9 Price Performance

NCTY stock traded up $0.23 during midday trading on Friday, hitting $9.16. The stock had a trading volume of 16,465 shares, compared to its average volume of 48,807. The business has a fifty day moving average price of $8.03 and a two-hundred day moving average price of $6.80. The9 has a 1-year low of $3.33 and a 1-year high of $14.70. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.37 and a quick ratio of 1.37.

About The9

The9 Limited, together with its subsidiaries, operates as Internet company in the People's Republic of China and internationally. It also involves in the operation of cryptocurrency mining and Non-Fungible Token platform NFTSTAR, a NFT trading and community platform that provides users with purchase, trade, and interactive activities.