The9 (NASDAQ:NCTY) Share Price Passes Above 200 Day Moving Average – Here’s Why

The9 Limited (NASDAQ:NCTY) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.94 and traded as high as $15.98. The9 shares last traded at $15.61, with a volume of 16,750 shares trading hands.

Wall Street Analysts Forecast Growth

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

The9 Stock Performance

The firm has a fifty day moving average price of $15.93 and a two-hundred day moving average price of $10.97.

Hedge Funds Weigh In On The9

Several hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP purchased a new stake in shares of The9 in the 4th quarter worth $823,000. Jump Financial LLC purchased a new stake in shares of The9 in the 4th quarter worth $230,000. Headlands Technologies LLC purchased a new stake in shares of The9 in the 4th quarter worth $67,000. Finally, Independent Advisor Alliance increased its stake in shares of The9 by 17.5% in the 3rd quarter. Independent Advisor Alliance now owns 16,232 shares of the technology company’s stock worth $110,000 after purchasing an additional 2,422 shares in the last quarter. 0.54% of the stock is 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.