The9 (NASDAQ:NCTY) Raised to Hold at Wall Street Zen
by Mitch Edgeman · The Markets DailyThe9 (NASDAQ:NCTY – Get Free Report) was upgraded by analysts at Wall Street Zen to a “hold” rating in a report issued on Saturday.
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of The9 in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.
View Our Latest Report on NCTY
The9 Stock Performance
Shares of NCTY opened at $4.71 on Friday. The firm has a 50-day moving average price of $4.60 and a 200 day moving average price of $5.34. The9 has a 52-week low of $3.14 and a 52-week high of $11.60.
Hedge Funds Weigh In On The9
An institutional investor recently raised its position in The9 stock. Invesco Ltd. grew its stake in The9 Limited (NASDAQ:NCTY – Free Report) by 57.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,811 shares of the technology company’s stock after buying an additional 11,931 shares during the period. Invesco Ltd. owned approximately 0.26% of The9 worth $255,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.