The9 Limited [NCTY] Stock trading around $13.90 per share: What’s Next?

The9 Limited [NASDAQ: NCTY] traded at a low on 02/01/21, posting a -9.62 loss after which it closed the day’ session at $13.90. The company report on January 25, 2021 that The9 Signed Legally Binding Memorandum of Understanding on the Purchase of Bitcoin Mining Machines.

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The9 Limited (Nasdaq: NCTY) (“The9”), an established Internet company, announced that it signed five legally binding Memorandum of Understanding (collectively the “MOUs”) with five Bitcoin mining machine owners to purchase Bitcoin mining machines by the issuance of Class A ordinary shares. After the completion of the transaction, The9 is expected to own 26,007 Bitcoin mining machines, with a total hash rate of approximately 549PH/S, accounting for about 0.36% of the global hash rate of Bitcoin. Majority of these mining machines have already been deployed in Xinjiang, Sichuan and Gansu in China.

According to the MOUs, The9 will issue a certain amount of Class A ordinary shares to each Bitcoin mining machine owners in exchange for the transfer of the Bitcoin mining machines and related rights and interests of equal value to The9. The9 will designate its wholly-owned subsidiaries including NBTC Limited to own these mining machines.

The results of the trading session contributed to over 1000830 shares changing hands. Over the past one week, the price volatility of The9 Limited stands at 25.33% while the volatility over the past one month is 29.55%.

The market cap for NCTY stock reached $129.41 million, with 8.96 million shares outstanding and 5.30 million shares in the current float. Compared to the average trading volume of 4.03M shares, NCTY reached a trading volume of 1000830 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about The9 Limited [NCTY]?

JP Morgan have made an estimate for The9 Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 13, 2009. The new note on the price target was released on June 18, 2009, representing the official price target for The9 Limited stock. Previously, the target price had yet another drop from $17 to $11, while Roth Capital kept a Hold rating on NCTY stock. On January 27, 2009, analysts increased their price target for NCTY shares from 16 to 20.

The Average True Range (ATR) for The9 Limited is set at 2.80

How has NCTY stock performed recently?

The9 Limited [NCTY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.96. With this latest performance, NCTY shares gained by 306.43% in over the last four-week period, additionally plugging by 93.35% over the last 6 months – not to mention a rise of 46.32% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NCTY stock in for the last two-week period is set at 58.69, with the RSI for the last a single of trading hit 57.50, and the three-weeks RSI is set at 59.35 for The9 Limited [NCTY]. The present Moving Average for the last 50 days of trading for this stock 6.74, while it was recorded at 13.63 for the last single week of trading, and 5.91 for the last 200 days.

The9 Limited [NCTY]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and The9 Limited [NCTY] shares currently have an operating margin of -38089.23 and a Gross Margin at -835.53. The9 Limited’s Net Margin is presently recorded at -55820.08.

Reflecting on the efficiency of the workforce at the company, The9 Limited [NCTY] managed to generate an average of -$452,247 per employee. Receivables Turnover for the company is 0.04 with a Total Asset Turnover recorded at a value of 0.00.The9 Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.20.

Insider trade positions for The9 Limited [NCTY]

There are presently around $5 million, or 4.20% of NCTY stock, in the hands of institutional investors. The top three institutional holders of NCTY stocks are: CVI HOLDINGS, LLC with ownership of 219,278, which is approximately New of the company’s market cap and around 45.10% of the total institutional ownership; ANSON FUNDS MANAGEMENT LP, holding 100,865 shares of the stock with an approximate value of $1.4 million in NCTY stocks shares; and HRT FINANCIAL LP, currently with $0.27 million in NCTY stock with ownership of nearly 66.879% of the company’s market capitalization.

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Positions in The9 Limited stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 4 institutional holders increased their position in The9 Limited [NASDAQ:NCTY] by around 338,645 shares. Additionally, 7 investors decreased positions by around 35,864 shares, while 1 investors held positions by with 24,383 shares. The mentioned changes placed institutional holdings at 350,126 shares, according to the latest SEC report filing. NCTY stock had 3 new institutional investments in for a total of 330,978 shares, while 7 institutional investors sold positions of 35,864 shares during the same period.

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