The9 Limited (NASDAQ:NCTY) Short Interest Up 28.3% in November

The9 Limited (NASDAQ:NCTY) was the target of a significant growth in short interest in November. As of November 30th, there was short interest totalling 35,800 shares, a growth of 28.3% from the November 15th total of 27,900 shares. Based on an average daily trading volume, of 123,400 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.4% of the company’s stock are short sold.

Institutional Investors Weigh In On The9

An institutional investor recently raised its position in The9 stock. Independent Advisor Alliance lifted its stake in shares of The9 Limited (NASDAQ:NCTY) by 17.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 16,232 shares of the technology company’s stock after buying 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 SEC filing. Institutional investors and hedge funds own 0.54% of the company’s stock.

The9 Stock Performance

Shares of NCTY traded up $0.07 during mid-day trading on Friday, reaching $17.48. The company’s stock had a trading volume of 74,245 shares, compared to its average volume of 64,925. The9 has a 1-year low of $4.03 and a 1-year high of $20.59. The business has a 50-day simple moving average of $10.94 and a two-hundred day simple moving average of $8.70.

Analysts Set New Price Targets

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

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.