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

The9 Limited (NASDAQ:NCTY) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-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.

Wall Street Analyst Weigh In

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 firm’s 50-day simple moving average is $15.07 and its 200 day simple moving average is $11.63.

Institutional Trading of The9

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Independent Advisor Alliance grew its position in The9 by 17.5% in the third quarter. Independent Advisor Alliance now owns 16,232 shares of the technology company’s stock worth $110,000 after buying an additional 2,422 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of The9 during the 4th quarter worth $67,000. Jump Financial LLC acquired a new position in shares of The9 in the 4th quarter worth $230,000. Finally, Marshall Wace LLP acquired a new stake in shares of The9 during the fourth quarter worth $823,000. 0.54% of the stock is 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.