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

Shares of The9 Limited (NASDAQ:NCTY) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.44 and traded as high as $15.66. The9 shares last traded at $14.96, with a volume of 173,551 shares changing hands.

Analysts Set New Price Targets

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

The9 Stock Performance

The business has a fifty day simple moving average of $13.09 and a two-hundred day simple moving average of $9.48.

Institutional Trading of The9

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