The9 (NASDAQ:NCTY) Stock Crosses Above 200 Day Moving Average – What’s Next?

The9 Limited (NASDAQ:NCTY) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.42 and traded as high as $16.78. The9 shares last traded at $13.01, with a volume of 180,988 shares changing hands.

Wall Street Analyst Weigh In

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

The9 Price Performance

The company has a 50-day moving average of $15.53 and a 200-day moving average of $11.42.

Hedge Funds Weigh In On The9

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Independent Advisor Alliance grew its stake 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 acquiring an additional 2,422 shares in the last quarter. Headlands Technologies LLC bought a new position in The9 in the 4th quarter valued at about $67,000. Jump Financial LLC bought a new stake in The9 in the 4th quarter valued at $230,000. Finally, Marshall Wace LLP bought a new position in The9 during the fourth quarter worth about $823,000. 0.54% of the stock is 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.