The9 (NASDAQ:NCTY) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

The9 Limited (NASDAQ:NCTY) passed 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.

Analysts Set New Price Targets

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

The9 Stock Down 2.0 %

The business’s 50 day simple moving average is $13.78 and its 200 day simple moving average is $9.74.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in The9 stock. Independent Advisor Alliance grew its position in The9 Limited (NASDAQ:NCTY) by 17.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,232 shares of the technology company’s stock after acquiring 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 quarter. 0.54% of the stock is owned by institutional investors.

About The9

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.