Ninetowns Internet Technlgy Grp Co Ltd. (NASDAQ:NINE) has received an average recommendation of “Buy” from the ten analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $36.75.

A number of equities research analysts recently issued reports on the company. Tudor Pickering raised Ninetowns Internet Technlgy Grp from a “hold” rating to a “buy” rating and set a $24.79 price target for the company in a research note on Tuesday, February 5th. Zacks Investment Research lowered Ninetowns Internet Technlgy Grp from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 12th. Goldman Sachs Group assumed coverage on Ninetowns Internet Technlgy Grp in a research note on Sunday, March 10th. They set a “buy” rating and a $33.00 price target for the company. Bank of America decreased their price target on Ninetowns Internet Technlgy Grp from $47.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, December 3rd. Finally, Raymond James raised their price target on Ninetowns Internet Technlgy Grp from $31.00 to $32.00 and gave the stock a “strong-buy” rating in a research note on Friday, March 8th.

Shares of Ninetowns Internet Technlgy Grp stock traded down $1.09 on Thursday, reaching $22.66. The company had a trading volume of 252,194 shares, compared to its average volume of 119,877. Ninetowns Internet Technlgy Grp has a 1 year low of $20.18 and a 1 year high of $40.39.

Ninetowns Internet Technlgy Grp (NASDAQ:NINE) last announced its earnings results on Wednesday, March 6th. The company reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.01). The firm had revenue of $229.45 million during the quarter, compared to analysts’ expectations of $231.71 million.

In related news, insider David Crombie sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $22.40, for a total transaction of $1,344,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its holdings in shares of Ninetowns Internet Technlgy Grp by 0.3% in the 4th quarter. FMR LLC now owns 326,998 shares of the company’s stock valued at $7,371,000 after buying an additional 1,100 shares during the period. Millennium Management LLC acquired a new position in shares of Ninetowns Internet Technlgy Grp during the 4th quarter worth approximately $213,000. Legal & General Group Plc raised its position in shares of Ninetowns Internet Technlgy Grp by 18.8% during the 4th quarter. Legal & General Group Plc now owns 2,639 shares of the company’s stock worth $59,000 after purchasing an additional 418 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Ninetowns Internet Technlgy Grp by 40.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,200,684 shares of the company’s stock worth $27,064,000 after purchasing an additional 344,608 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its holdings in Ninetowns Internet Technlgy Grp by 356.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,217 shares of the company’s stock valued at $118,000 after acquiring an additional 4,074 shares during the last quarter.

Ninetowns Internet Technlgy Grp Company Profile

Ninetowns Internet Technology Group Company Limited is a software company that enables enterprises and trade-related People’s Republic of China Government agencies to streamline the import/export process in China. It operates in four segments: enterprise software and related maintenance services , software development services segment, B2C e-commerce and, and real estate development.

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Analyst Recommendations for Ninetowns Internet Technlgy Grp (NASDAQ:NINE)

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