The9 (NASDAQ:NCTY) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

The9 Limited (NASDAQ:NCTY) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.74 and traded as high as $15.50. The9 shares last traded at $14.80, with a volume of 64,539 shares.

Analysts Set New Price Targets

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

The9 Price Performance

The stock’s fifty day moving average price is $13.78 and its two-hundred day moving average price is $9.74.

Institutional Investors Weigh In On The9

A hedge fund recently raised its stake in The9 stock. Independent Advisor Alliance increased its stake in shares of The9 Limited (NASDAQ:NCTY) by 17.5% during the 3rd quarter, according to its most recent 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 about 0.18% of The9 worth $110,000 at the end of the most recent quarter. 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.