Understanding The9 Limited (NASDAQ:NCTY)’s Growth Potential

The9 Limited (NASDAQ:NCTY) shares, rose in value on Thursday, Apr 08, with the stock price up by 5.2% to the previous day’s close as strong demand from buyers drove the stock to $26.1.

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Actively observing the price movement in the recent trading, the stock is buoying the session at $24.81, falling within a range of $25.13 and $26.88. The value of beta (5-year monthly) is 1.29 whereas the PE ratio is 1.94 over 12-month period. Referring to stock’s 52-week performance, its high was $89.2, and the low was $2.04. On the whole, NCTY has fluctuated by -35.58% over the past month.

We see that NCTY’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Buy.

1 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by none analyst(s), no one recommend it as a Buy and no body called the NCTY stock Outperform. In the meantime, 1 analyst(s) believe the stock as Underperform and none think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Underweight.

A comparison of The9 Limited (NCTY) with its peers suggests the former has fared considerably better in the market. NCTY showed an intraday change of +5.2% in today’s session so far, and over the past year, it grew by +451.33%. In comparison, Relx Plc (RELX) has moved higher at +0.74% today and is up +20.34% over the past 12 months. On the other hand, the price of Tencent Music Entertainment ADR (TME) has risen 1.6% today. The stock, however, is off 85.55% from where it was a year ago. Additionally, there is a gain of 520% for Yandex N.V. (YNDX) in recent trading while the stock has seen an overall apprecation of 451.33% over the past year. The PE ratio stands at 1.94 for The9 Limited, compared to 29.92 for Relx Plc, and 51.85 for Tencent Music Entertainment ADR. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 0.29%. Meanwhile, the Dow Jones Industrial weakened by -0.03%.

Data on historical trading for The9 Limited (NASDAQ:NCTY) indicates that the trading volumes over the past 10 days have averaged 5.56 Million and over the past 3 months, they’ve averaged 4.13 Million. According to company’s latest data on outstanding shares, there are 9.5 Million shares outstanding.

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Nearly 1.5% of The9 Limited’s shares belong to company insiders and institutional investors own 0.64% of the company’s shares, according to Thomson Reuters’ data. The data on short interest also indicates that stock shorts accounted for 557.62 Million shares as on March 14, 2021, resulting in a short ratio of 0.18. According to the data, the short interest in The9 Limited (NCTY) stood at 5.36% of shares outstanding as of March 14, 2021; the number of short shares registered in February reached 656.24 Million. The stock has risen by +600.85% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NCTY stock heading into the next quarter.

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