The trading price of The9 Limited (NASDAQ:NCTY) closed higher on Tuesday, July 20, closing at $9.15, 4.21% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $8.5539 and $9.39. The company’s P/E ratio in the trailing 12-month period was 0.54, while its 5Y monthly beta was 1.19. In examining the 52-week price action we see that the stock hit a 52-week high of $89.20 and a 52-week low of $2.04. Over the past month, the stock has lost -44.55% in value.
The9 Limited, whose market valuation is $109.53 million at the time of this writing, is expected to release its quarterly earnings report Mar 29, 2021. Investors’ optimism about the company’s current quarter earnings report is understandable.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of The9 Limited No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest NCTY has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 50% Sell.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned NCTY a recommendation rating is 1. Out of them, 0 rate it a Hold, while 0 recommend Buy, whereas 0 assign an Overweight rating. 1 analyst(s) have tagged The9 Limited (NCTY) as Underweight, while 0 advise Sell. Analysts have rated the stock Underweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that NCTY’s price is currently -26.69% off the SMA20 and -34.27% off the SMA50. The RSI metric on the 14-day chart is currently showing 31.29, and weekly volatility stands at 10.30%. When measured over the past 30 days, the indicator reaches 9.61%. The9 Limited (NASDAQ:NCTY)’s beta value is currently sitting at 1.16, while the Average True Range indicator is currently displaying 1.41. With analysts defining $671.50-$671.50 as the low and high price targets, we arrive at a consensus price target of $671.50 for the trailing 12-month period. The current price is about -7238.8% off the estimated low and -7238.8% off the forecast high, based on this estimate. Investors will be thrilled if NCTY’s share price rises to $671.50, which is the median consensus price. At that level, NCTY’s share price would be -7238.8% below current price.
To see how The9 Limited stock has been performing in comparison to its peers in the industry, here are the numbers: NCTY stock’s performance was 4.21% in the latest trading, and 23.47% in the past year. The9 Limited has a P/E ratio of 0.54. Also in last trading session, the S&P 500 Index has surged 1.52%, while the Dow Jones Industrial also saw a positive session, up 1.62% on the day.
An evaluation of the daily trading volume of The9 Limited (NASDAQ:NCTY) indicates that the 3-month average is 2.34 million. However, this figure has increased over the past 10 days to an average of 0.76 million.
Currently, records show that 11.97 million of the company’s shares remain outstanding. The insiders hold 45.10% of outstanding shares, whereas institutions hold 6.90%. The stats also highlight that short interest as of May 27, 2021, stood at 0.45 million shares, resulting in a short ratio of 0.38 at that time. From this, we can conclude that short interest is 2.76% of the company’s total outstanding shares. It is noteworthy that short shares in May were up slightly from the previous month’s figure, which was 0.45 million. However, since the stock’s price has seen 158.47% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.