The9 (NASDAQ:NCTY) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of The9 (NASDAQ:NCTY) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

The9 Trading Up 1.0 %

Shares of NASDAQ NCTY opened at $6.06 on Wednesday. The company has a 50 day simple moving average of $5.89 and a 200 day simple moving average of $6.08. The9 has a 1 year low of $3.33 and a 1 year high of $14.70.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NCTY. Renaissance Technologies LLC raised its holdings in The9 by 434.1% in the 2nd quarter. Renaissance Technologies LLC now owns 98,143 shares of the technology company’s stock valued at $165,000 after buying an additional 79,767 shares during the last quarter. Millennium Management LLC bought a new position in The9 in the 2nd quarter valued at approximately $112,000. Nomura Holdings Inc. bought a new position in The9 in the 1st quarter valued at approximately $46,000. UBS Group AG raised its holdings in The9 by 10,524.1% in the 2nd quarter. UBS Group AG now owns 33,997 shares of the technology company’s stock valued at $57,000 after buying an additional 33,677 shares during the last quarter. Finally, State Street Corp increased its position in The9 by 3.8% during the 1st quarter. State Street Corp now owns 587,228 shares of the technology company’s stock valued at $1,750,000 after purchasing an additional 21,321 shares during the period. Institutional investors own 0.54% of the company’s stock.

About The9

The9 Limited, together with its subsidiaries, operates as Internet company in the People's Republic of China and internationally. It also involves in the operation of cryptocurrency mining and Non-Fungible Token platform NFTSTAR, a NFT trading and community platform that provides users with purchase, trade, and interactive activities.