Ninetowns Internet Technlgy Grp (NASDAQ:NINE) PT Lowered to $15.00

Ninetowns Internet Technlgy Grp (NASDAQ:NINE) had its price objective cut by Raymond James from $28.00 to $15.00 in a report published on Tuesday, BenzingaRatingsTable reports. They currently have a strong-buy rating on the stock.

Several other analysts also recently issued reports on the company. AltaCorp Capital restated a sector perform rating on shares of Ninetowns Internet Technlgy Grp in a research note on Thursday, June 20th. Wells Fargo & Co restated an outperform rating and issued a $14.00 price target (down from $25.00) on shares of Ninetowns Internet Technlgy Grp in a research note on Tuesday. Zacks Investment Research downgraded Ninetowns Internet Technlgy Grp from a hold rating to a strong sell rating in a research note on Tuesday, July 16th. Finally, Bank of America restated a buy rating and issued a $21.00 price target (down from $27.00) on shares of Ninetowns Internet Technlgy Grp in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Ninetowns Internet Technlgy Grp has a consensus rating of Buy and an average price target of $29.98.

NINE opened at $8.91 on Tuesday. The firm has a fifty day moving average price of $13.76. Ninetowns Internet Technlgy Grp has a 1 year low of $8.68 and a 1 year high of $40.39.



Several hedge funds have recently modified their holdings of the company. Covalent Partners LLC purchased a new position in Ninetowns Internet Technlgy Grp during the second quarter valued at approximately $2,397,000. BlackRock Inc. increased its holdings in Ninetowns Internet Technlgy Grp by 6.4% during the second quarter. BlackRock Inc. now owns 1,027,379 shares of the company’s stock valued at $17,806,000 after buying an additional 61,509 shares during the period. Northern Trust Corp increased its holdings in Ninetowns Internet Technlgy Grp by 4.3% during the second quarter. Northern Trust Corp now owns 184,278 shares of the company’s stock valued at $3,194,000 after buying an additional 7,620 shares during the period. Prudential Financial Inc. increased its holdings in Ninetowns Internet Technlgy Grp by 34.2% during the second quarter. Prudential Financial Inc. now owns 17,510 shares of the company’s stock valued at $303,000 after buying an additional 4,460 shares during the period. Finally, Aperio Group LLC purchased a new position in Ninetowns Internet Technlgy Grp during the second quarter valued at approximately $45,000.

About Ninetowns Internet Technlgy Grp

Ninetowns Internet Technology Group Company Limited is a software company that enables enterprises and trade-related People’s Republic of China Government agencies to streamline the import/export process in China. It operates in four segments: enterprise software and related maintenance services , software development services segment, B2C e-commerce and, and real estate development.

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Analyst Recommendations for Ninetowns Internet Technlgy Grp (NASDAQ:NINE)

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