The9 Limited (NASDAQ:NCTY) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 51,400 shares, a drop of 56.2% from the August 30th total of 117,300 shares. Based on an average trading volume of 128,700 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.2% of the company’s stock are sold short.
An institutional investor recently bought a new position in The9 stock. Morgan Stanley acquired a new position in shares of The9 Limited (NASDAQ:NCTY) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 71,597 shares of the technology company’s stock, valued at approximately $89,000. Morgan Stanley owned 0.24% of The9 at the end of the most recent quarter. 0.34% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ NCTY traded up $0.05 during trading on Friday, reaching $0.96. 52,261 shares of the company’s stock were exchanged, compared to its average volume of 284,784. The9 has a fifty-two week low of $0.78 and a fifty-two week high of $8.13. The company’s fifty day simple moving average is $1.06 and its 200-day simple moving average is $1.30.
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.
See Also: Capital Gains Distribution
Receive News & Ratings for The9 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The9 and related companies with MarketBeat.com's FREE daily email newsletter.