JP Morgan slashes price target on The9 Limited [NCTY] – find out why.

The9 Limited [NASDAQ: NCTY] slipped around -6.26 points on Thursday, while shares priced at $51.99 at the close of the session, down -10.75%. The company report on March 15, 2021 that The9 Appointed Wang Wei as the Vice President of NBTC Limited.

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The9 Limited (Nasdaq: NCTY) (“The9”), an established Internet company, announced the appointment of Mr. Wang Wei as the Vice President of NBTC Limited (hereinafter referred to as “NBTC”), a wholly-owned subsidiary of The9. Mr. Wang will lead the global operation and management of the cryptocurrencies mining machines in NBTC.

Mr. Wang is an early pioneer in the blockchain industry. Before joining The9, he served as the head of Canaan Technology’s technical service center, leading the team responsible for the maintenance and after-sales service of hundreds of thousands of mining machines. At the same time, Mr. Wang’s team assisted customers in building and upgrading blockchain supercomputing centers.

The9 Limited stock is now 1368.64% up from its year-to-date (YTD) trading value. NCTY Stock saw the intraday high of $60.1473 and lowest of $51.51 per share. The company’s 52-week high price is 89.20, which means current price is +890.29% above from all time high which was touched on 02/22/21.

Compared to the average trading volume of 5.05M shares, NCTY reached a trading volume of 2841916 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 11.92

How has NCTY stock performed recently?

The9 Limited [NCTY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.84. With this latest performance, NCTY shares dropped by -14.49% in over the last four-week period, additionally plugging by 649.78% over the last 6 months – not to mention a rise of 1294.58% 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 53.52, with the RSI for the last a single of trading hit 50.29, and the three-weeks RSI is set at 55.40 for The9 Limited [NCTY]. The present Moving Average for the last 50 days of trading for this stock 34.44, while it was recorded at 58.07 for the last single week of trading, and 12.47 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 1.10% 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 $1.95 million in NCTY stocks shares; and WELLS FARGO & COMPANY/MN, currently with $0.21 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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