The9 (NASDAQ:NCTY) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

The9 Limited (NASDAQ:NCTY) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.50 and traded as high as $6.55. The9 shares last traded at $6.55, with a volume of 37,565 shares traded.

Analyst Ratings Changes

Several brokerages recently issued reports on NCTY. Wall Street Zen upgraded shares of The9 from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of The9 in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

The9 Trading Up 0.6%

The firm’s 50-day moving average price is $5.65 and its 200-day moving average price is $6.50.

The9 (NASDAQ:NCTY) last posted its earnings results on Wednesday, April 15th. The technology company reported ($3.02) earnings per share for the quarter. The company had revenue of $3.38 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in The9 stock. Invesco Ltd. boosted its position in shares of The9 Limited (NASDAQ:NCTY) by 57.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,811 shares of the technology company’s stock after buying an additional 11,931 shares during the quarter. Invesco Ltd. owned 0.26% of The9 worth $255,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 0.54% of the company’s stock.

About The9

The9 Limited is a Shanghai-based digital entertainment company specializing in the development, publishing and operation of online and mobile games. Since its founding in 1999, the company has built a portfolio of multiplayer titles that combine in-house development capabilities with strategic licensing agreements. The9’s offerings span PC and mobile platforms, and its products include fantasy, role-playing and casual games tailored primarily to the mainland China market.

Historically, The9 gained prominence through a landmark partnership with an international game developer, securing exclusive rights to operate the popular World of Warcraft franchise in China from 2004 to 2009.