The9 (NASDAQ:NCTY) Stock Crosses Above 200 Day Moving Average – Should You Sell?

The9 Limited (NASDAQ:NCTY)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.80 and traded as high as $11.30. The9 shares last traded at $10.98, with a volume of 163,051 shares.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of The9 from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th.

The9 Trading Up 6.7 %

The business’s 50-day moving average price is $8.05 and its 200 day moving average price is $7.80.

Institutional Trading of The9

An institutional investor recently raised its position in The9 stock. Independent Advisor Alliance boosted its holdings in The9 Limited (NASDAQ:NCTY) by 17.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,232 shares of the technology company’s stock after purchasing an additional 2,422 shares during the period. Independent Advisor Alliance owned approximately 0.18% of The9 worth $110,000 at the end of the most recent reporting period. 0.54% of the stock is currently owned by institutional investors and hedge funds.

The9 Company Profile

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.