The9 (NASDAQ:NCTY) Posts Earnings Results

The9 (NASDAQ:NCTY) issued its quarterly earnings results on Monday. The technology company reported $3.09 earnings per share for the quarter, FiscalAI reports. The company had revenue of $0.71 million during the quarter.

The9 Stock Performance

Shares of NCTY stock opened at $5.78 on Monday. The9 has a fifty-two week low of $3.14 and a fifty-two week high of $11.60. The stock has a 50 day simple moving average of $4.58 and a two-hundred day simple moving average of $5.18.

Institutional Trading of The9

An institutional investor recently raised its stake in The9 stock. Invesco Ltd. boosted its stake in The9 Limited (NASDAQ:NCTY) by 57.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing. Hedge funds and other institutional investors own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NCTY. Wall Street Zen upgraded The9 to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of The9 in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, The9 has an average rating of “Sell”.

The9 Company Profile

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.