The9 (NASDAQ:NCTY) Stock Passes Above 200-Day Moving Average – Here’s Why

Shares of The9 Limited (NASDAQ:NCTY) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.44 and traded as high as $12.78. The9 shares last traded at $11.98, with a volume of 91,778 shares trading hands.

The9 Stock Down 8.2 %

The stock’s 50 day moving average is $13.60 and its two-hundred day moving average is $12.48.

Institutional Investors Weigh In On The9

Hedge funds have recently modified their holdings of the business. Marshall Wace LLP purchased a new stake in The9 during the fourth quarter worth $823,000. Jump Financial LLC bought a new position in shares of The9 in the 4th quarter worth $230,000. Finally, Headlands Technologies LLC purchased a new stake in shares of The9 during the 4th quarter worth $67,000. Hedge funds and other institutional investors own 0.54% of the company’s stock.

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.