The9 (NASDAQ:NCTY) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded The9 (NASDAQ:NCTY) from a "sell" to a "hold," but Weiss Ratings reissued a "sell (d-)" and the stock's average analyst rating remains Sell.
• The stock opened at $5.65 (up about 2.7%), trading near its 50-day moving average of $5.60 but well below its 200-day average of $6.81 and a one-year high of $12.51.
• The9 reported weak quarterly results—EPS of ($3.02) on $3.38 million in revenue—and institutional interest is small but rising, with Invesco increasing its stake 57.1% to 32,811 shares (about 0.26% of the company).

The9 (NASDAQ:NCTY - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of The9 in a report on Tuesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of "Sell".

The9 Stock Up 2.7%

Shares of The9 stock opened at $5.65 on Friday. The9 has a 1 year low of $5.00 and a 1 year high of $12.51. The stock has a fifty day moving average price of $5.60 and a 200-day moving average price of $6.81.

The9 (NASDAQ:NCTY - Get Free Report) last announced its earnings results on Wednesday, April 15th. The technology company reported ($3.02) earnings per share (EPS) for the quarter. The firm had revenue of $3.38 million during the quarter.

Institutional Investors Weigh In On The9

An institutional investor recently raised its position in The9 stock. Invesco Ltd. increased its position in The9 Limited (NASDAQ:NCTY - Free Report) by 57.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 32,811 shares of the technology company's stock after acquiring an additional 11,931 shares during the quarter. Invesco Ltd. owned about 0.26% of The9 worth $255,000 as of its most recent SEC filing. Institutional investors and hedge funds own 0.54% of the company's stock.

The9 Company Profile

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.

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