The9 (NASDAQ:NCTY) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

The9 Limited (NASDAQ:NCTY)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.32 and traded as high as $15.89. The9 shares last traded at $15.47, with a volume of 80,508 shares traded.

Wall Street Analyst Weigh In

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

The9 Stock Up 4.5 %

The stock’s fifty day simple moving average is $15.23 and its 200-day simple moving average is $10.32.

Institutional Inflows and Outflows

An institutional investor recently raised its position in The9 stock. Independent Advisor Alliance raised its position in The9 Limited (NASDAQ:NCTY) by 17.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 about 0.18% of The9 worth $110,000 at the end of the most recent reporting period. 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.