The9 (NASDAQ:NCTY) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of The9 (NASDAQ:NCTY) from a sell rating to a hold rating in a report published on Wednesday morning.

The9 Price Performance

Shares of The9 stock opened at $10.09 on Wednesday. The business’s fifty day moving average is $7.67 and its two-hundred day moving average is $7.69. The9 has a fifty-two week low of $4.03 and a fifty-two week high of $10.09.

Institutional Trading of The9

An institutional investor recently raised its position in The9 stock. Independent Advisor Alliance boosted its stake in The9 Limited (NASDAQ:NCTY) by 17.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,232 shares of the technology company’s stock after purchasing an additional 2,422 shares during the period. 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.

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.