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

The9 Limited (NASDAQ:NCTY) saw a significant decline in short interest in April. As of April 15th, there was short interest totalling 52,000 shares, a decline 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 daily volume of 51,300 shares, the days-to-cover ratio is presently 1.0 days.

Analyst Ratings Changes

Separately, StockNews.com upgraded The9 from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th.

The9 Price Performance

The9 stock traded up $0.05 during midday trading on Monday, reaching $6.97. 9,192 shares of the stock were exchanged, compared to its average volume of 54,472. The9 has a 52 week low of $3.33 and a 52 week high of $14.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.37 and a current ratio of 1.37. The company’s fifty day moving average is $5.94 and its 200-day moving average is $6.23.

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.