The9 (NASDAQ:NCTY) Shares Pass Above 200-Day Moving Average – Here’s Why

The9 Limited (NASDAQ:NCTY)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.01 and traded as high as $17.21. The9 shares last traded at $16.77, with a volume of 230,392 shares traded.

Analysts Set New Price Targets

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

The9 Stock Performance

The company’s 50 day moving average price is $14.80 and its two-hundred day moving average price is $10.12.

Institutional Investors Weigh In On The9

A hedge fund recently raised its stake in The9 stock. Independent Advisor Alliance lifted its position in The9 Limited (NASDAQ:NCTY) by 17.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,232 shares of the technology company’s stock after acquiring an additional 2,422 shares during the quarter. Independent Advisor Alliance owned 0.18% of The9 worth $110,000 as of its most recent SEC filing. Institutional investors and hedge funds own 0.54% of the company’s stock.

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.