The9 (NASDAQ:NCTY) Issues Quarterly Earnings Results

The9 (NASDAQ:NCTY) issued its quarterly earnings results on Wednesday. The technology company reported ($3.02) earnings per share for the quarter, FiscalAI reports. The business had revenue of $3.38 million for the quarter.

The9 Stock Up 0.4%

NCTY opened at $5.40 on Thursday. The company has a fifty day moving average of $5.63 and a 200 day moving average of $7.02. The9 has a fifty-two week low of $5.00 and a fifty-two week high of $12.88.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in The9 stock. Invesco Ltd. lifted its position in The9 Limited (NASDAQ:NCTY) by 57.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,811 shares of the technology company’s stock after purchasing an additional 11,931 shares during the quarter. Invesco Ltd. owned about 0.26% of The9 worth $255,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of The9 in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

About The9

The9 Limited is a Shanghai-based digital entertainment company specializing in the development, publishing and operation of online and mobile games. Since its founding in 1999, the company has built a portfolio of multiplayer titles that combine in-house development capabilities with strategic licensing agreements. The9’s offerings span PC and mobile platforms, and its products include fantasy, role-playing and casual games tailored primarily to the mainland China market.

Historically, The9 gained prominence through a landmark partnership with an international game developer, securing exclusive rights to operate the popular World of Warcraft franchise in China from 2004 to 2009.