The9 (NASDAQ:NCTY) Share Price Passes Above 200-Day Moving Average - Here's What Happened

The9 Limited (NASDAQ:NCTY - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.01 and traded as high as $17.21. The9 shares last traded at $16.77, with a volume of 230,392 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded The9 from a "hold" rating to a "sell" rating in a research report on Thursday, November 21st.

The9 Stock Performance

The business has a 50-day moving average price of $14.65 and a 200-day moving average price of $10.07.

Hedge Funds Weigh In On The9

An institutional investor recently raised its position in The9 stock. Independent Advisor Alliance increased its stake in shares of The9 Limited (NASDAQ:NCTY - Free Report) by 17.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,232 shares of the technology company's stock after purchasing an additional 2,422 shares during the quarter. Independent Advisor Alliance owned approximately 0.18% of The9 worth $110,000 as of its most recent SEC filing. 0.54% of the stock is currently owned by hedge funds and other institutional investors.

The9 Company Profile

The9 Limited operates as a cryptocurrency mining business in China, Eastern Europe, Asia, and North America. The company was formerly known as GameNow.net Limited and changed its name to The9 Limited in February 2004. The9 Limited was incorporated in 1999 and is headquartered in Shanghai, the People's Republic of China.