The9 (NASDAQ:NCTY) Upgraded at Wall Street Zen
by Scott Moore · The Cerbat GemWall Street Zen upgraded shares of The9 (NASDAQ:NCTY – Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday.
Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of The9 in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, The9 has a consensus rating of “Sell”.
Check Out Our Latest Analysis on The9
The9 Price Performance
NASDAQ NCTY opened at $5.34 on Friday. The business has a 50 day simple moving average of $5.60 and a 200 day simple moving average of $6.71. The9 has a 52-week low of $5.00 and a 52-week high of $12.51.
The9 (NASDAQ:NCTY – Get Free Report) last posted its earnings results on Wednesday, April 15th. The technology company reported ($3.02) earnings per share (EPS) for the quarter. The company had revenue of $3.38 million during the quarter.
Hedge Funds Weigh In On The9
An institutional investor recently raised its position in The9 stock. Invesco Ltd. grew its position in shares of The9 Limited (NASDAQ:NCTY – Free Report) by 57.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,811 shares of the technology company’s stock after acquiring an additional 11,931 shares during the quarter. Invesco Ltd. owned 0.26% of The9 worth $255,000 at the end of the most recent reporting period. 0.54% of the stock is owned by hedge funds and other institutional investors.
The9 Company Profile
The9 Limited is a Shanghai-based digital entertainment company specializing in the development, publishing and operation of online and mobile games. Since its founding in 1999, the company has built a portfolio of multiplayer titles that combine in-house development capabilities with strategic licensing agreements. The9’s offerings span PC and mobile platforms, and its products include fantasy, role-playing and casual games tailored primarily to the mainland China market.
Historically, The9 gained prominence through a landmark partnership with an international game developer, securing exclusive rights to operate the popular World of Warcraft franchise in China from 2004 to 2009.