The9 Limited (NASDAQ:NCTY) Short Interest Down 31.3% in September

Key Points

• The9 Limited's short interest decreased by 31.3% in September, falling from 269,600 shares to 185,200 shares.
• Despite a significant drop in short interest, Weiss Ratings maintains a "sell (d-)" rating on the company, indicating ongoing skepticism among analysts.
• An institutional investor recently increased its stake in The9 Limited by 19.3%, owning approximately 0.06% of the company as of the latest SEC filing.

The9 Limited (NASDAQ:NCTY - Get Free Report) saw a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 185,200 shares, a decrease of 31.3% from the September 15th total of 269,600 shares. Based on an average daily trading volume, of 66,000 shares, the days-to-cover ratio is presently 2.8 days. Currently, 1.6% of the company's shares are sold short. Currently, 1.6% of the company's shares are sold short. Based on an average daily trading volume, of 66,000 shares, the days-to-cover ratio is presently 2.8 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of The9 in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, The9 presently has a consensus rating of "Sell".

The9 Stock Performance

Shares of The9 stock traded up $0.49 on Thursday, reaching $9.43. 109,149 shares of the company were exchanged, compared to its average volume of 83,428. The9 has a 1-year low of $7.07 and a 1-year high of $20.59. The stock's 50 day moving average price is $9.55 and its 200-day moving average price is $9.81.

Institutional Investors Weigh In On The9

An institutional investor recently raised its position in The9 stock. Headlands Technologies LLC raised its holdings in The9 Limited (NASDAQ:NCTY - Free Report) by 19.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,524 shares of the technology company's stock after buying an additional 894 shares during the period. Headlands Technologies LLC owned about 0.06% of The9 worth $83,000 as of its most recent SEC filing. 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.

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