The9 (NASDAQ:NCTY) Stock Rating Lowered by StockNews.com

by · The Markets Daily

The9 (NASDAQ:NCTY – Get Free Report) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

The9 Price Performance

Shares of NCTY stock traded down $0.31 during mid-day trading on Thursday, hitting $10.67. The company had a trading volume of 128,248 shares, compared to its average volume of 52,940. The stock’s 50 day moving average price is $8.13 and its 200-day moving average price is $7.82. The9 has a 52-week low of $4.03 and a 52-week high of $11.93.

Institutional Trading of The9

An institutional investor recently raised its position in The9 stock. Independent Advisor Alliance raised its position in shares of The9 Limited (NASDAQ:NCTY – Free Report) by 17.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,232 shares of the technology company’s stock after acquiring an additional 2,422 shares during the period. Independent Advisor Alliance owned approximately 0.18% of The9 worth $110,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 0.54% of the company’s stock.

The9 Company Profile

(Get Free Report)

The9 Limited operates as a cryptocurrency mining business in China, Eastern Europe, Asia, and North America. The company was formerly known as GameNow.net Limited and changed its name to The9 Limited in February 2004. The9 Limited was incorporated in 1999 and is headquartered in Shanghai, the People’s Republic of China.

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