The9 (NASDAQ:NCTY – Get Free Report) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.
The9 Trading Up 2.7 %
Shares of The9 stock traded up $0.15 during trading hours on Wednesday, hitting $5.75. 11,554 shares of the company’s stock traded hands, compared to its average volume of 57,925. The9 has a 12-month low of $3.33 and a 12-month high of $14.70. The company has a fifty day simple moving average of $5.89 and a 200-day simple moving average of $6.08.
Institutional Investors Weigh In On The9
Several large investors have recently made changes to their positions in NCTY. Renaissance Technologies LLC increased its position in shares of The9 by 434.1% during the 2nd quarter. Renaissance Technologies LLC now owns 98,143 shares of the technology company’s stock valued at $165,000 after purchasing an additional 79,767 shares during the last quarter. Millennium Management LLC bought a new position in shares of The9 during the 2nd quarter worth $112,000. Nomura Holdings Inc. bought a new position in shares of The9 during the 1st quarter worth $46,000. UBS Group AG grew its stake in shares of The9 by 10,524.1% during the 2nd quarter. UBS Group AG now owns 33,997 shares of the technology company’s stock worth $57,000 after acquiring an additional 33,677 shares during the period. Finally, State Street Corp grew its stake in shares of The9 by 3.8% during the 1st quarter. State Street Corp now owns 587,228 shares of the technology company’s stock worth $1,750,000 after acquiring an additional 21,321 shares during the period. 0.54% of the stock is owned by hedge funds and other institutional investors.
The9 Company Profile
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.
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