The9 (NASDAQ:NCTY) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of The9 Limited (NASDAQ:NCTY) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.03 and traded as high as $15.50. The9 shares last traded at $14.60, with a volume of 98,652 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded The9 from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st.

The9 Price Performance

The firm’s fifty day moving average price is $12.02 and its 200 day moving average price is $9.13.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in The9 stock. Independent Advisor Alliance boosted its position in shares of The9 Limited (NASDAQ:NCTY) by 17.5% in the third quarter, according to the company in its most recent disclosure 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 period. Independent Advisor Alliance owned approximately 0.18% of The9 worth $110,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.