The9 Limited (NASDAQ:NCTY)’s share price fell 24.6% on Friday . The company traded as low as $12.05 and last traded at $12.89. 7,532,217 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 34,693,801 shares. The stock had previously closed at $17.10.
Separately, ValuEngine lowered shares of The9 from a “buy” rating to a “hold” rating in a research report on Wednesday.
The business’s 50-day simple moving average is $3.88 and its two-hundred day simple moving average is $4.93.
Institutional investors have recently modified their holdings of the business. Two Sigma Securities LLC acquired a new stake in The9 in the second quarter valued at approximately $29,000. Jane Street Group LLC acquired a new position in shares of The9 during the second quarter worth $76,000. Morgan Stanley acquired a new position in shares of The9 during the third quarter worth $34,000. Finally, UBS Group AG lifted its holdings in shares of The9 by 1,653.8% during the second quarter. UBS Group AG now owns 161,312 shares of the technology company’s stock worth $129,000 after purchasing an additional 152,114 shares during the period.
The9 Company Profile (NASDAQ:NCTY)
The9 Limited, together with its subsidiaries, operates and develops online games in the People's Republic of China. The company offers online games, including multiplayer online games, mobile games, Web games, and TV games. It also develops mobile games, including CrossFire New Mobile Game and Audition; and provides technical consulting services.
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