The9 (NASDAQ:NCTY) Cut to Sell at StockNews.com

StockNews.com cut shares of The9 (NASDAQ:NCTY) from a hold rating to a sell rating in a report issued on Thursday.

The9 Trading Up 4.7 %

Shares of The9 stock opened at $11.06 on Thursday. The9 has a fifty-two week low of $4.03 and a fifty-two week high of $11.93. The firm has a 50-day simple moving average of $8.28 and a two-hundred day simple moving average of $7.87.

Institutional Trading of The9

An institutional investor recently raised its position in The9 stock. Independent Advisor Alliance increased its holdings in shares of The9 Limited (NASDAQ:NCTY) by 17.5% during the third 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 buying an additional 2,422 shares during the period. Independent Advisor Alliance owned about 0.18% of The9 worth $110,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 0.54% of the company’s stock.

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.