The9 Limited (NASDAQ:NCTY – Get Free Report) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 52,000 shares, a drop of 20.2% from the March 31st total of 65,200 shares. Based on an average daily trading volume, of 51,300 shares, the days-to-cover ratio is presently 1.0 days. Currently, 1.8% of the shares of the company are short sold.
The9 Stock Up 2.7 %
Shares of NASDAQ:NCTY traded up $0.18 during trading on Friday, hitting $6.92. 44,551 shares of the company’s stock were exchanged, compared to its average volume of 21,755. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.37 and a current ratio of 1.37. The9 has a 52-week low of $3.33 and a 52-week high of $14.70. The business’s 50-day simple moving average is $5.92 and its 200 day simple moving average is $6.19.
Analysts Set New Price Targets
Separately, StockNews.com upgraded The9 from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th.
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.
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