The9 (NASDAQ:NCTY – Get Free Report) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
The9 Price Performance
NCTY opened at $11.06 on Thursday. The business’s fifty day simple moving average is $8.28 and its 200 day simple moving average is $7.86. The9 has a 52 week low of $4.03 and a 52 week high of $11.93.
Institutional Investors Weigh In On The9
An institutional investor recently raised its position in The9 stock. Independent Advisor Alliance grew its stake 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 and Exchange Commission. The fund owned 16,232 shares of the technology company’s stock after buying 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 quarter. 0.54% of the stock is currently owned by institutional investors.
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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