The9 (NASDAQ:NCTY) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

The9 Limited (NASDAQ:NCTY) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.63 and traded as high as $11.70. The9 shares last traded at $11.05, with a volume of 67,960 shares traded.

Analysts Set New Price Targets

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

The9 Stock Performance

The stock has a 50-day moving average of $15.07 and a 200-day moving average of $11.63.

Hedge Funds Weigh In On The9

Several hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in shares of The9 in the 4th quarter worth about $823,000. Independent Advisor Alliance grew its position in 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 during the last quarter. Jump Financial LLC acquired a new stake in shares of The9 in the fourth quarter valued at approximately $230,000. Finally, Headlands Technologies LLC bought a new stake in shares of The9 during the fourth quarter valued at approximately $67,000. Institutional investors and hedge funds own 0.54% of the company’s stock.

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.