The9 (NASDAQ:NCTY) Upgraded at StockNews.com

The9 (NASDAQ:NCTY) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

The9 Price Performance

Shares of NCTY stock opened at $6.00 on Wednesday. The firm has a 50 day moving average of $5.89 and a two-hundred day moving average of $6.07. The9 has a 52 week low of $3.33 and a 52 week high of $14.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Nomura Holdings Inc. acquired a new stake in The9 in the 1st quarter valued at about $46,000. Renaissance Technologies LLC raised its holdings in The9 by 75.8% in the third quarter. Renaissance Technologies LLC now owns 172,491 shares of the technology company’s stock valued at $168,000 after acquiring an additional 74,348 shares in the last quarter. Millennium Management LLC purchased a new position in The9 in the second quarter worth approximately $112,000. UBS Group AG lifted its stake in The9 by 10,524.1% in the second 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 last quarter. Finally, Virtu Financial LLC acquired a new position in The9 during the 1st quarter worth approximately $45,000. 0.54% of the stock is owned by institutional investors and hedge funds.

About The9

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.