Short Interest in The9 Limited (NASDAQ:NCTY) Declines By 69.7%

The9 Limited (NASDAQ:NCTY) was the target of a large decline in short interest in June. As of June 15th, there was short interest totalling 3,300 shares, a decline of 69.7% from the May 31st total of 10,900 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 36,700 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of The9 from a “sell” rating to a “hold” rating in a research report on Tuesday, May 28th.

The9 Price Performance

Shares of The9 stock traded up $0.60 during trading on Thursday, hitting $8.69. 79,718 shares of the stock were exchanged, compared to its average volume of 50,794. The9 has a 1-year low of $3.33 and a 1-year high of $14.70. The company has a fifty day moving average price of $7.63 and a 200-day moving average price of $6.72. 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 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.