The9 Limited (NASDAQ:NCTY) Sees Large Increase in Short Interest

The9 Limited (NASDAQ:NCTY) was the target of a significant growth in short interest in November. As of November 29th, there was short interest totalling 105,700 shares, a growth of 79.8% from the November 14th total of 58,800 shares. Based on an average daily volume of 163,700 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.4% of the company’s stock are short sold.

An institutional investor recently bought a new position in The9 stock. Morgan Stanley purchased a new position in shares of The9 Limited (NASDAQ:NCTY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 71,597 shares of the technology company’s stock, valued at approximately $89,000. Morgan Stanley owned approximately 0.24% of The9 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 0.19% of the company’s stock.

Shares of NCTY opened at $0.97 on Friday. The9 has a 1 year low of $0.78 and a 1 year high of $3.90. The company’s 50-day simple moving average is $0.97 and its 200-day simple moving average is $1.07.

The9 Company Profile

The9 Limited, together with its subsidiaries, operates as an online game developer and operator in the People's Republic of China. The company offers online games, including massively multiplayer online games, mobile games, Web games, and TV games. It also provides training services, such as smartphone application programming training services to college students.

Further Reading: Hold Rating

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