The9 (NASDAQ:NCTY) Upgraded at StockNews.com

StockNews.com upgraded shares of The9 (NASDAQ:NCTY) from a sell rating to a hold rating in a report released on Wednesday morning.

The9 Stock Performance

Shares of NASDAQ NCTY opened at $6.06 on Wednesday. The firm has a 50 day moving average price of $5.89 and a 200 day moving average price of $6.08. The9 has a 52-week low of $3.33 and a 52-week high of $14.70.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp lifted its stake in The9 by 3.8% in the first quarter. State Street Corp now owns 587,228 shares of the technology company’s stock valued at $1,750,000 after buying an additional 21,321 shares in the last quarter. Renaissance Technologies LLC lifted its stake in The9 by 75.8% in the third quarter. Renaissance Technologies LLC now owns 172,491 shares of the technology company’s stock valued at $168,000 after buying an additional 74,348 shares in the last quarter. Millennium Management LLC bought a new position in The9 in the second quarter valued at approximately $112,000. Nomura Holdings Inc. bought a new position in The9 in the first quarter valued at approximately $46,000. Finally, UBS Group AG lifted its stake in The9 by 10,524.1% in the second quarter. UBS Group AG now owns 33,997 shares of the technology company’s stock valued at $57,000 after buying an additional 33,677 shares in the last quarter. Institutional investors own 0.54% of the company’s stock.

About The9

The9 Limited, together with its subsidiaries, operates as Internet company in the People's Republic of China and internationally. It also involves in the operation of cryptocurrency mining and Non-Fungible Token platform NFTSTAR, a NFT trading and community platform that provides users with purchase, trade, and interactive activities.