The9 (NASDAQ:NCTY) Stock Passes Above 200-Day Moving Average – What’s Next?

The9 Limited (NASDAQ:NCTY)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.01 and traded as high as $17.21. The9 shares last traded at $16.77, with a volume of 230,392 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of The9 from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st.

The9 Trading Up 5.3 %

The business has a fifty day moving average of $14.50 and a 200-day moving average of $10.01.

Hedge Funds Weigh In On The9

An institutional investor recently raised its position in The9 stock. Independent Advisor Alliance raised its stake in shares of The9 Limited (NASDAQ:NCTY) by 17.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,232 shares of the technology company’s stock after purchasing an additional 2,422 shares during the quarter. Independent Advisor Alliance owned approximately 0.18% of The9 worth $110,000 at the end of the most recent reporting period. 0.54% of the stock is currently owned by institutional investors and hedge funds.

About The9

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.