The9 (NASDAQ:NCTY) Stock Rating Upgraded by StockNews.com

The9 (NASDAQ:NCTY) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

The9 Price Performance

NCTY opened at $6.00 on Wednesday. The business’s fifty day simple moving average is $5.89 and its 200-day simple moving average is $6.07. The9 has a 12-month low of $3.33 and a 12-month high of $14.70.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NCTY. Virtu Financial LLC acquired a new position in shares of The9 during the first quarter worth $45,000. Nomura Holdings Inc. purchased a new stake in The9 in the first quarter valued at about $46,000. Goldman Sachs Group Inc. acquired a new stake in The9 in the first quarter worth about $48,000. Renaissance Technologies LLC purchased a new stake in shares of The9 during the first quarter worth about $55,000. Finally, UBS Group AG grew its stake in shares of The9 by 10,524.1% during the second quarter. UBS Group AG now owns 33,997 shares of the technology company’s stock worth $57,000 after acquiring an additional 33,677 shares during the last quarter. Institutional investors own 0.54% of the company’s stock.

About The9

The9 Limited, together with its subsidiaries, operates as Internet company in the People's Republic of China and internationally. It also involves in the operation of cryptocurrency mining and Non-Fungible Token platform NFTSTAR, a NFT trading and community platform that provides users with purchase, trade, and interactive activities.