Ninetowns Internet Technlgy Grp Co Ltd. (NASDAQ:NINE) Receives Consensus Rating of “Buy” from Analysts

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Ninetowns Internet Technlgy Grp Co Ltd. (NASDAQ:NINE) has been assigned an average rating of “Buy” from the ten ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $27.47.

Several analysts recently weighed in on NINE shares. Citigroup reduced their price objective on Ninetowns Internet Technlgy Grp from $18.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. AltaCorp Capital reaffirmed a “sector perform” rating on shares of Ninetowns Internet Technlgy Grp in a research note on Thursday, June 20th. Wells Fargo & Co lowered Ninetowns Internet Technlgy Grp from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 12th. Raymond James reduced their price objective on Ninetowns Internet Technlgy Grp from $28.00 to $15.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, August 13th. Finally, Zacks Investment Research lowered Ninetowns Internet Technlgy Grp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 16th.

NASDAQ:NINE opened at $7.41 on Thursday. The stock’s 50-day simple moving average is $8.00 and its 200 day simple moving average is $16.76. Ninetowns Internet Technlgy Grp has a twelve month low of $4.85 and a twelve month high of $40.39.

Ninetowns Internet Technlgy Grp (NASDAQ:NINE) last released its quarterly earnings data on Monday, August 12th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. The business had revenue of $237.52 million during the quarter, compared to analyst estimates of $237.82 million.

A number of institutional investors have recently bought and sold shares of NINE. Aperio Group LLC bought a new position in Ninetowns Internet Technlgy Grp in the second quarter valued at about $45,000. BNP Paribas Arbitrage SA raised its position in Ninetowns Internet Technlgy Grp by 310.5% in the first quarter. BNP Paribas Arbitrage SA now owns 3,124 shares of the company’s stock valued at $71,000 after purchasing an additional 2,363 shares during the last quarter. A.R.T. Advisors LLC bought a new position in Ninetowns Internet Technlgy Grp in the second quarter valued at about $196,000. Prudential Financial Inc. raised its position in Ninetowns Internet Technlgy Grp by 34.2% in the second quarter. Prudential Financial Inc. now owns 17,510 shares of the company’s stock valued at $303,000 after purchasing an additional 4,460 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its position in Ninetowns Internet Technlgy Grp by 12.1% in the second quarter. Mesirow Financial Investment Management Inc. now owns 28,491 shares of the company’s stock valued at $453,000 after purchasing an additional 3,074 shares during the last quarter.

Ninetowns Internet Technlgy Grp Company Profile

Ninetowns Internet Technology Group Company Limited is a software company that enables enterprises and trade-related People’s Republic of China Government agencies to streamline the import/export process in China. It operates in four segments: enterprise software and related maintenance services , software development services segment, B2C e-commerce and, and real estate development.

See Also: Fundamental Analysis

Analyst Recommendations for Ninetowns Internet Technlgy Grp (NASDAQ:NINE)

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