The9 (NASDAQ:NCTY) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of The9 Limited (NASDAQ:NCTY) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.94 and traded as high as $15.98. The9 shares last traded at $15.61, with a volume of 16,750 shares trading hands.

Wall Street Analyst Weigh In

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

The9 Stock Down 0.7 %

The firm’s 50 day moving average is $15.94 and its two-hundred day moving average is $10.94.

Institutional Trading of The9

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new stake in shares of The9 during the 4th quarter worth about $823,000. Jump Financial LLC purchased a new stake in shares of The9 during the 4th quarter worth about $230,000. Headlands Technologies LLC purchased a new stake in shares of The9 during the 4th quarter worth about $67,000. Finally, Independent Advisor Alliance grew its holdings in shares of The9 by 17.5% during the 3rd quarter. Independent Advisor Alliance now owns 16,232 shares of the technology company’s stock worth $110,000 after purchasing an additional 2,422 shares during the period. Hedge funds and other 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.