The9 (NASDAQ:NCTY) Announces Earnings Results
by Amy Steele · The Cerbat GemThe9 (NASDAQ:NCTY – Get Free Report) announced its quarterly earnings data on Wednesday. The technology company reported ($3.02) earnings per share for the quarter, FiscalAI reports. The business had revenue of $3.38 million for the quarter.
The9 Trading Up 5.1%
Shares of NCTY stock opened at $5.68 on Thursday. The company has a 50 day moving average price of $5.63 and a 200-day moving average price of $7.02. The9 has a 52 week low of $5.00 and a 52 week high of $12.88.
Hedge Funds Weigh In On The9
An institutional investor recently raised its position in The9 stock. Invesco Ltd. boosted its stake in shares of The9 Limited (NASDAQ:NCTY – Free Report) by 57.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,811 shares of the technology company’s stock after purchasing an additional 11,931 shares during the period. Invesco Ltd. owned about 0.26% of The9 worth $255,000 at the end of the most recent quarter. 0.54% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of The9 in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, The9 presently has an average rating of “Sell”.
Read Our Latest Stock Report on The9
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.