StockNews.com Upgrades The9 (NASDAQ:NCTY) to “Hold”

The9 (NASDAQ:NCTY) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

The9 Stock Performance

Shares of NASDAQ NCTY opened at $11.30 on Wednesday. The9 has a 52 week low of $4.03 and a 52 week high of $11.49. The business has a 50-day simple moving average of $7.74 and a two-hundred day simple moving average of $7.70.

Institutional Trading of The9

An institutional investor recently raised its position in The9 stock. Independent Advisor Alliance raised its holdings in shares of The9 Limited (NASDAQ:NCTY) by 17.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,232 shares of the technology company’s stock after buying an additional 2,422 shares during the quarter. Independent Advisor Alliance owned about 0.18% of The9 worth $110,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 0.54% of the company’s stock.

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.