The9 (NASDAQ:NCTY) Upgraded at Wall Street Zen

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

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

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The9 Price Performance

NASDAQ NCTY opened at $4.53 on Friday. The9 has a 1-year low of $3.14 and a 1-year high of $11.60. The stock has a 50-day moving average of $4.59 and a 200-day moving average of $5.33.

Hedge Funds Weigh In On The9

A hedge fund recently raised its stake in The9 stock. Invesco Ltd. grew its position in shares of The9 Limited (NASDAQ:NCTY – Free Report) by 57.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,811 shares of the technology company’s stock after acquiring an additional 11,931 shares during the period. Invesco Ltd. owned about 0.26% of The9 worth $255,000 as of its most recent SEC filing. 0.54% of the stock is currently owned by hedge funds and other institutional investors.

About The9

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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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