The9 (NASDAQ:NCTY) Shares Pass Above 200 Day Moving Average – Time to Sell?

The9 Limited (NASDAQ:NCTY) shares passed 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 trading hands.

Wall Street Analyst Weigh In

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

The9 Stock Performance

The stock has a 50-day simple moving average of $14.50 and a two-hundred day simple moving average of $10.01.

Institutional Trading of The9

A hedge fund recently raised its stake in The9 stock. Independent Advisor Alliance increased its holdings in The9 Limited (NASDAQ:NCTY) by 17.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing. Institutional investors 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.