The9 Limited (NASDAQ:NCTY) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 51,400 shares, a decline of 56.2% from the August 30th total of 117,300 shares. Based on an average daily volume of 128,700 shares, the short-interest ratio is presently 0.4 days. Currently, 0.2% of the shares of the company are sold short.
Shares of NCTY traded up $0.05 during trading hours on Friday, hitting $0.96. The stock had a trading volume of 52,261 shares, compared to its average volume of 284,784. The firm has a 50-day moving average price of $1.06 and a 200 day moving average price of $1.30. The9 has a fifty-two week low of $0.78 and a fifty-two week high of $8.13.
An institutional investor recently bought a new position in The9 stock. Morgan Stanley bought a new stake in The9 Limited (NASDAQ:NCTY) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 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 reporting period. Institutional investors own 0.34% of the company’s stock.
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.
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