The9 Limited (NASDAQ:NCTY – Get Free Report) saw a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 52,000 shares, a decrease of 20.2% from the March 31st total of 65,200 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average trading volume of 51,300 shares, the days-to-cover ratio is presently 1.0 days.
The9 Trading Up 2.7 %
NCTY stock traded up $0.18 during mid-day trading on Friday, reaching $6.92. 44,551 shares of the company traded hands, compared to its average volume of 21,755. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.09. The9 has a 52-week low of $3.33 and a 52-week high of $14.70. The company has a fifty day moving average price of $5.92 and a 200-day moving average price of $6.19.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded The9 from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th.
The9 Company Profile
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.
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