The9 Limited (NASDAQ: NCTY): Reassessing Prospects

GLBE Stock
GLBE Stock

UBS Securities LLC has recently announced that it has increased stake in The9 Limited (NASDAQ:NCTY) by 1,653.77%. After grabbing 0.16 million shares, the institutional investor is now in possession of 0.15 million shares of the Communication Services Company. The new investment brought the stake of investor firm to 0.27% having worth around $0.12 million. Moreover, HRT Financial LLC increased its share by 0.11 million to have a control over 0.11 million shares. And Jane Street Capital LLC raised its holdings to 94815.0 shares by acquiring 94815.0 shares or 0.16% of the stake.

The9 Limited (NCTY) concluded trading on 08/27/20 at a closing price of $0.48, with 2.8 million shares of worth about $1.34 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -14.29% during that period and on Thursday the price saw a gain of about 5.77%. Currently the company’s common shares owned by public are about 42.84M shares, out of which, 12.02M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 1 analyst is covering the NCTY stock and their offered price forecasts bring an average price target of $67.15. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $67.15 and could fall to a lowest price of $67.15. However, touching the estimated high of $67.15 would mean a gain of 99.29% for the stock.

The company recently came buying 0.0 shares which brought its stake up to 0.06% of the company’s outstanding shares.

The9 Limited (NASDAQ: NCTY) started trading at $0.44, below -$0.01 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $0.48, or with a gain of 5.77%. Stock saw a price change of -14.29% in past 5 days and over the past one month there was a price change of -35.73%. Year-to-date (YTD), NCTY shares are showing a performance of -47.37% which decreased to -56.76% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.35 but also hit the highest price of $1.36 during that period. While comparing its average daily trading volume of 1.45 million shares, we see that about 2.8 million changed hands on the day. The stock is currently trading -25.78% below its 20-day simple moving average (SMA20), while that difference is down -32.24% for SMA50 and it goes to -35.89% lower than SMA200.

UBS Securities LLC acquired 0.16 million shares of The9 Limited having value of about $0.12 million. Data submitted at the U.S SEC by UBS Securities LLC revealed that the firm now holds 0.15 million shares in the company valued at close to $73014.72, or have control over 1,653.77% stake in the company. The9 Limited (NASDAQ: NCTY) currently have 42.84M outstanding shares and institutions hold larger chunk of about 0.90% of that. Holding of mutual funds in the company is about 0.10% while other institutional holders and individual stake holders have control over 0.70% and — of the stake respectively.

The stock has a current market capitalization of $34.87M and its 3Y-monthly beta is at 1.81. It has posted earnings per share of -$0.70 in the same period. It has Quick Ratio of 0.10. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NCTY, volatility over the week remained 15.10% while standing at 10.51% over the month.

Analysts are in expectations that The9 Limited (NCTY) stock would likely to be making an EPS of $Paylocity Holding Corporation in the current quarter, while forecast for next quarter ESPS is $143.18 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $The9 Limited – American Deposit which is $MONITRONICS INTERNATIONAL at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Qwest Corporation 6.125% Notes in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 56.90%.

Analysts at 1 brokerage firms have issued recommendations for the The9 Limited (NCTY)’s stock out of those 1 Wall Street analysts, 0 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on November 13, 2009 offering a Neutral rating for the stock and assigned a target price of to it. Coverage by Oppenheimer stated The9 Limited (NCTY) stock as a Perform in their note to investors on June 18, 2009, suggesting a price target of for the stock. On April 16, 2009, Roth Capital Reiterated their recommendations, while on January 27, 2009, ThinkEquity Reiterated their ratings for the stock with a price target of $20. Stock get a Hold rating from Sterne Agee on January 27, 2009.


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