The9 Limited [NCTY] moved up 54.38: Why It’s Important

The9 Limited [NASDAQ: NCTY] traded at a high on 07/26/21, posting a 54.38 gain after which it closed the day’ session at $13.40. The company report on July 12, 2021 that The9 Limited and Russian BitRiver Signed Cryptocurrency Mining Hosting Agreement.

The9 Limited (Nasdaq: NCTY) (“The9”), an established Internet company, announced that it has signed a cryptocurrency mining hosting agreement with Russian company BitRiver (“BitRiver”) through its wholly-owned subsidiary NBTC Limited.

BitRiver, headquartered in Moscow, was established in 2017 to provide global hosting services and a one-stop, turnkey solutions for large-scale cryptocurrency mining operations. BitRiver currently utilizes surplus hydroelectric power to operate data centers through low cost and sustainable energy that offers hosting services for cryptocurrency mining in Russia and the other regions. At present, the targeted data-center for The9’s mining machines has an initial total power supply capacity of 100MW which could host more than 33,000 mining machines.

The results of the trading session contributed to over 20072205 shares changing hands. Over the past one week, the price volatility of The9 Limited stands at 17.41% while the volatility over the past one month is 10.74%.

The market cap for NCTY stock reached $171.52 million, with 12.80 million shares outstanding and 8.28 million shares in the current float. Compared to the average trading volume of 2.33M shares, NCTY reached a trading volume of 20072205 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]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NCTY shares is $3.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NCTY stock is a recommendation set at 4.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 1.48, with the Price to Sales ratio for NCTY stock in the period of the last 12 months amounting to 274.22.

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 52.62. With this latest performance, NCTY shares dropped by -3.60% in over the last four-week period, additionally sinking by -0.74% over the last 6 months – not to mention a rise of 90.07% 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 55.07, with the RSI for the last a single of trading hit 62.72, and the three-weeks RSI is set at 50.40 for The9 Limited [NCTY]. The present Moving Average for the last 50 days of trading for this stock 13.36, while it was recorded at 10.15 for the last single week of trading, and 17.89 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 -17909.40 and a Gross Margin at -30.16. The9 Limited’s Net Margin is presently recorded at +63421.40.

Reflecting on the efficiency of the workforce at the company, The9 Limited [NCTY] managed to generate an average of $1,222,833 per employee. Receivables Turnover for the company is 0.08 with a Total Asset Turnover recorded at a value of 0.01.The9 Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.

Insider trade positions for The9 Limited [NCTY]

There are presently around $10 million, or 7.00% of NCTY stock, in the hands of institutional investors. The top three institutional holders of NCTY stocks are: CVI HOLDINGS, LLC with ownership of 223,913, which is approximately New of the company’s market cap and around 45.10% of the total institutional ownership; HUDSON BAY CAPITAL MANAGEMENT LP, holding 131,000 shares of the stock with an approximate value of $1.75 million in NCTY stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $1.36 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 September and at the time of the September reporting period, where 19 institutional holders increased their position in The9 Limited [NASDAQ:NCTY] by around 763,165 shares. Additionally, 4 investors decreased positions by around 91,735 shares, while 1 investors held positions by with 73,016 shares. The mentioned changes placed institutional holdings at 781,884 shares, according to the latest SEC report filing. NCTY stock had 18 new institutional investments in for a total of 761,393 shares, while 4 institutional investors sold positions of 91,735 shares during the same period.

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