StockNews.com lowered shares of The9 (NASDAQ:NCTY – Free Report) from a hold rating to a sell rating in a research note issued to investors on Thursday.
The9 Price Performance
NCTY opened at $11.06 on Thursday. The9 has a 12-month low of $4.03 and a 12-month high of $11.93. The firm has a 50 day moving average of $8.28 and a two-hundred day moving average of $7.87.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in The9 stock. Independent Advisor Alliance grew its stake in The9 Limited (NASDAQ:NCTY – Free Report) by 17.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing. 0.54% of the stock is owned by hedge funds and other institutional investors.
The9 Company Profile
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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