The9 (NASDAQ:NCTY) Stock Passes Above 200-Day Moving Average – What’s Next?

The9 Limited (NASDAQ:NCTY)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $9.74 and traded as high as $15.50. The9 shares last traded at $14.80, with a volume of 64,539 shares trading hands.

Analyst Ratings Changes

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

The9 Stock Performance

The business’s 50-day simple moving average is $13.78 and its 200 day simple moving average is $9.76.

Hedge Funds Weigh In On The9

A hedge fund recently raised its stake in The9 stock. Independent Advisor Alliance lifted its stake in The9 Limited (NASDAQ:NCTY) by 17.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,232 shares of the technology company’s stock after buying an additional 2,422 shares during the period. Independent Advisor Alliance owned approximately 0.18% of The9 worth $110,000 as of its most recent SEC filing. 0.54% of the stock is owned by hedge funds and other institutional investors.

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.