NetEase (NASDAQ:NTES) Downgraded by BidaskClub to “Sell”

BidaskClub cut shares of NetEase (NASDAQ:NTES) from a hold rating to a sell rating in a report issued on Thursday morning, BidAskClub reports.

A number of other research analysts have also commented on the company. Jefferies Financial Group assumed coverage on NetEase in a report on Monday, August 5th. They set a buy rating and a $274.60 price target for the company. Barclays upped their price target on NetEase from $320.00 to $340.00 and gave the stock an overweight rating in a report on Thursday, October 31st. Zacks Investment Research upgraded NetEase from a hold rating to a buy rating and set a $238.00 price target for the company in a report on Thursday, August 8th. Nomura upped their price target on NetEase from $288.00 to $317.00 and gave the stock a buy rating in a report on Monday, September 9th. Finally, ValuEngine lowered NetEase from a buy rating to a hold rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $296.71.

Shares of NTES stock traded up $16.01 during trading hours on Thursday, reaching $310.40. 1,296,800 shares of the company’s stock were exchanged, compared to its average volume of 718,766. NetEase has a fifty-two week low of $209.01 and a fifty-two week high of $311.77. The stock has a market capitalization of $36.92 billion, a P/E ratio of 45.18, a P/E/G ratio of 0.84 and a beta of 0.81. The business has a fifty day moving average price of $282.52 and a 200-day moving average price of $263.43.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ridgewood Investments LLC raised its stake in NetEase by 2.5% during the third quarter. Ridgewood Investments LLC now owns 2,298 shares of the technology company’s stock worth $612,000 after acquiring an additional 56 shares in the last quarter. Wetherby Asset Management Inc. raised its stake in NetEase by 3.6% during the second quarter. Wetherby Asset Management Inc. now owns 1,827 shares of the technology company’s stock worth $467,000 after acquiring an additional 63 shares in the last quarter. D.A. Davidson & CO. raised its stake in NetEase by 1.1% during the third quarter. D.A. Davidson & CO. now owns 5,850 shares of the technology company’s stock worth $1,557,000 after acquiring an additional 65 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in NetEase by 1.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,959 shares of the technology company’s stock worth $2,384,000 after acquiring an additional 93 shares in the last quarter. Finally, Huntington National Bank raised its stake in NetEase by 101.0% during the second quarter. Huntington National Bank now owns 209 shares of the technology company’s stock worth $53,000 after acquiring an additional 105 shares in the last quarter. Institutional investors and hedge funds own 49.26% of the company’s stock.

About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.

Read More: How to Invest in the Dividend Aristocrat Index

Analyst Recommendations for NetEase (NASDAQ:NTES)

Receive News & Ratings for NetEase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase and related companies with MarketBeat.com's FREE daily email newsletter.