StockNews.com downgraded shares of The9 (NASDAQ:NCTY – Free Report) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.
The9 Price Performance
Shares of NASDAQ NCTY opened at $11.06 on Thursday. The9 has a 1 year low of $4.03 and a 1 year high of $11.93. The firm has a 50-day simple moving average of $8.28 and a two-hundred day simple moving average of $7.87.
Hedge Funds Weigh In On The9
An institutional investor recently raised its stake in The9 stock. Independent Advisor Alliance raised its holdings in shares of The9 Limited (NASDAQ:NCTY – Free Report) by 17.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,232 shares of the technology company’s stock after purchasing an additional 2,422 shares during the quarter. Independent Advisor Alliance owned 0.18% of The9 worth $110,000 at the end of the most recent reporting period. 0.54% of the stock is 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.
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