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

Shares of The9 Limited (NASDAQ:NCTY) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.79 and traded as high as $9.85. The9 shares last traded at $9.77, with a volume of 136,273 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of The9 in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

The9 Stock Up 3.6%

The business’s fifty day moving average is $9.62 and its 200 day moving average is $9.79.

Institutional Trading of The9

A hedge fund recently raised its stake in The9 stock. Headlands Technologies LLC increased its holdings in The9 Limited (NASDAQ:NCTY) by 19.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,524 shares of the technology company’s stock after purchasing an additional 894 shares during the quarter. Headlands Technologies LLC owned 0.06% of The9 worth $83,000 at the end of the most recent quarter. 0.54% of the stock is currently owned by institutional investors and hedge funds.

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.