The9 (NASDAQ:NCTY) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of The9 (NASDAQ:NCTYGet Rating) in a research note issued to investors on Sunday. The firm set a “sell” rating on the technology company’s stock.

The9 Stock Performance

Shares of NASDAQ NCTY opened at $1.54 on Friday. The9 has a twelve month low of $0.45 and a twelve month high of $5.29. The company has a 50 day moving average of $0.78 and a 200 day moving average of $1.07.

Institutional Trading of The9

Several hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its position in The9 by 3.8% during the first quarter. State Street Corp now owns 587,228 shares of the technology company’s stock valued at $1,750,000 after acquiring an additional 21,321 shares during the last quarter. Renaissance Technologies LLC raised its stake in The9 by 75.8% during the third quarter. Renaissance Technologies LLC now owns 172,491 shares of the technology company’s stock worth $168,000 after purchasing an additional 74,348 shares during the period. Millennium Management LLC purchased a new stake in shares of The9 in the 2nd quarter valued at approximately $112,000. Virtu Financial LLC raised its stake in shares of The9 by 291.3% in the 2nd quarter. Virtu Financial LLC now owns 59,540 shares of the technology company’s stock valued at $100,000 after acquiring an additional 44,325 shares during the period. Finally, UBS Group AG grew its holdings in shares of The9 by 10,524.1% in the second quarter. UBS Group AG now owns 33,997 shares of the technology company’s stock valued at $57,000 after purchasing an additional 33,677 shares in the last quarter. Hedge funds and other institutional investors own 2.81% of the company’s stock.

About The9

(Get Rating)

The9 Ltd. is engaged in the operation of online games. It operates through Greater China and Other Areas geographical segments. The firm is transitioning to cryptocurrencies mining business. The company was founded by Jun Zhu on December 22, 1999 and is headquartered in Shanghai, China.

Further Reading

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