The9 (NASDAQ:NCTY) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

The9 Limited (NASDAQ:NCTY) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.03 and traded as high as $15.50. The9 shares last traded at $14.60, with a volume of 98,652 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of The9 from a “hold” rating to a “sell” rating in a report on Thursday, November 21st.

The9 Trading Up 4.5 %

The company has a 50-day simple moving average of $12.02 and a two-hundred day simple moving average of $9.13.

Hedge Funds Weigh In On The9

An institutional investor recently raised its position in The9 stock. Independent Advisor Alliance boosted its stake in shares of The9 Limited (NASDAQ:NCTY) by 17.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,232 shares of the technology company’s stock after purchasing an additional 2,422 shares during the period. Independent Advisor Alliance owned about 0.18% of The9 worth $110,000 at the end of the most recent reporting period. 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.