The9 (NASDAQ:NCTY) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of The9 (NASDAQ:NCTY) to a hold rating in a report released on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of The9 in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

The9 Stock Performance

Shares of The9 stock opened at $4.71 on Friday. The stock’s fifty day moving average price is $4.60 and its 200-day moving average price is $5.35. The9 has a 12 month low of $3.14 and a 12 month high of $11.60.

Institutional Trading of The9

A hedge fund recently raised its position in The9 stock. Invesco Ltd. lifted its position in shares of The9 Limited (NASDAQ:NCTY) by 57.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,811 shares of the technology company’s stock after purchasing an additional 11,931 shares during the period. Invesco Ltd. owned about 0.26% of The9 worth $255,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 0.54% of the company’s stock.

About The9

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.