The9 Limited [NCTY] Stock trading around $32.69 per share: What’s Next?

The9 Limited [NASDAQ: NCTY] closed the trading session at $32.69 on 02/26/21. The day’s price range saw the stock hit a low of $32.29, while the highest price level was $40.4999. The company report on February 26, 2021 that The9 Appointed Cai ZhiFang as the CEO of NBTC Limited to Lead the Development of Blockchain and Cryptocurrency Business.

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The9 Limited (Nasdaq: NCTY) (“The9”), an established Internet company, announced the appointment of Cai Zhifang as the Chief Executive Officer of NBTC Limited (hereinafter referred to as “NBTC”), a wholly-owned subsidiary of The9, to lead the development of blockchain and cryptocurrency business in NBTC. Mr. Cai has been on board.

Mr. Cai is an early pioneer in the blockchain industry. In 2013, Mr. Cai co-founded YiBit Digital Technology Company Limited, one of the earliest integrated platforms in blockchain industry in China. In 2015, Mr. Cai served as the general manager of WeiTui Technology Limited Company, which self-operated Bitcoin mining by the purchase of AvalonMiners from Canaan. The peak hash rate managed by Mr. Cai at that time accounted for nearly 4% of the global hash rate of Bitcoin. Afterwards Mr. Cai established a strategic partnership with Canaan, responsible for assisting its customers in establishing, operating and maintaining AvalonMiners. At that time Mr. Cai managed and operated more than 300,000 AvalonMiners, with an accumulative hash rate exceeding 5,000 PH/S, accounted for nearly 5% of the global hash rate of Bitcoin at that time.

The stocks have a year to date performance of 823.45 percent and weekly performance of -60.56 percent. The stock has been moved at 620.36 percent over the last six months. The stock has performed 218.62 percent around the most recent 30 days and changed 747.99 percent over the most recent 3-months.

If compared to the average trading volume of 4.43M shares, NCTY reached to a volume of 3615548 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 11.11

NCTY stock trade performance evaluation

The9 Limited [NCTY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -60.56. With this latest performance, NCTY shares gained by 218.62% in over the last four-week period, additionally plugging by 620.36% over the last 6 months – not to mention a rise of 265.19% 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 46.96, with the RSI for the last a single of trading hit 40.70, and the three-weeks RSI is set at 50.51 for The9 Limited [NCTY]. The present Moving Average for the last 50 days of trading for this stock 21.24, while it was recorded at 53.19 for the last single week of trading, and 9.32 for the last 200 days.

The9 Limited [NCTY]: An insightful look at the core 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.

The9 Limited [NCTY]: Insider Ownership positions

There are presently around $3 million, or 0.70% of NCTY stock, in the hands of institutional investors. The top three institutional holders of NCTY stocks are: SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC with ownership of 50,200, which is approximately New of the company’s market cap and around 45.10% of the total institutional ownership; PALOMA PARTNERS MANAGEMENT CO, holding 37,519 shares of the stock with an approximate value of $1.23 million in NCTY stocks shares; and WELLS FARGO & COMPANY/MN, currently with $0.13 million in NCTY stock with ownership of nearly New 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 3 institutional holders increased their position in The9 Limited [NASDAQ:NCTY] by around 91,719 shares. Additionally, 5 investors decreased positions by around 350,110 shares, while 0 investors held positions by with 350,094 shares. The mentioned changes placed institutional holdings at 91,735 shares, according to the latest SEC report filing. NCTY stock had 3 new institutional investments in for a total of 91,719 shares, while 4 institutional investors sold positions of 350,109 shares during the same period.

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