The9 (NASDAQ:NCTY) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• The9 (NASDAQ:NCTY) has been given a "Sell (D-)" rating by Weiss Ratings, indicating concerns about its stock performance.
• The company's stock price has fluctuated, with a one-year low of $7.07 and a high of $20.59, currently opening at $11.43.
• An institutional investor, Headlands Technologies LLC, increased its holdings in The9 by 19.3%, reflecting some confidence in the company's future despite the low rating.

The9 (NASDAQ:NCTY - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

The9 Stock Performance

NASDAQ NCTY opened at $11.43 on Wednesday. The9 has a one year low of $7.07 and a one year high of $20.59. The company's 50 day moving average price is $9.37 and its 200 day moving average price is $10.09.

Institutional Inflows and Outflows

An institutional investor recently raised its position in The9 stock. Headlands Technologies LLC raised its holdings in shares of The9 Limited (NASDAQ:NCTY - Free Report) by 19.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,524 shares of the technology company's stock after buying an additional 894 shares during the period. Headlands Technologies LLC owned about 0.06% of The9 worth $83,000 at the end of the most recent reporting period. 0.54% of the stock is 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.

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