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

The9 Limited (NASDAQ:NCTY) shares passed 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 traded.

Analyst Upgrades and Downgrades

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

The9 Price Performance

The business has a 50-day moving average price of $15.93 and a 200 day moving average price of $10.97.

Hedge Funds Weigh In On The9

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NCTY. Marshall Wace LLP bought a new position in The9 in the 4th quarter valued at approximately $823,000. Jump Financial LLC bought a new position in The9 in the 4th quarter valued at approximately $230,000. Headlands Technologies LLC bought a new position in The9 in the 4th quarter valued at approximately $67,000. Finally, Independent Advisor Alliance lifted 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 valued at $110,000 after acquiring 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.