Let’s start up with the current stock price of The9 Limited (NCTY), which is $22.86 to be very precise. The Stock rose vividly during the last session to $29.59 after opening rate of $27.53 while the lowest price it went was recorded $22.42 before closing at $26.68.
Recently in News on April 9, 2021, The9 Signed a Legally Binding Memorandum of Understanding on the Additional Purchase of Bitcoin Mining Machines. The9 Limited (Nasdaq: NCTY) (“The9”), an established Internet company, today announced that it signed a legally binding Memorandum of Understanding (the “MOU”) with an unrelated Bitcoin mining machine owner to purchase Bitcoin mining machines by the issuance of Class A ordinary shares. This batch of Bitcoin mining machines consists of 2,000 units of AvalonMiners with total hash rate of approximately 100PH/S. According to the MOUs, The9 will issue approximately 8,127,390 Class A ordinary shares (equivalent to 270,913 ADSs) to the sellers based on The9 share price of US$24.81 prior to the MOU, with a lock up period of 6 months. The number of Class A ordinary shares to be issued is subject to certain price adjustment mechanisms to be assessed 6 months after the signing of the definitive agreements. The9 will designate an independent valuation firm to conduct examination and assessment of the Bitcoin mining machine fair market value, and will make adjustment to the number of Class A ordinary shares to be issued if needed. You can read further details here
The9 Limited had a pretty favorable run when it comes to the market performance. The 1-year high price for the company’s stock is recorded $89.20 on 02/22/21, with the lowest value was $5.25 for the same time period, recorded on 01/04/21.
The9 Limited (NCTY) full year performance was 407.89%
Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stock’s existing status and the future performance. Presently, The9 Limited shares are logging -74.37% during the 52-week period from high price, and 1020.59% higher than the lowest price point for the same timeframe. The stock’s price range for the 52-week period managed to maintain the performance between $2.04 and $89.20.
The company’s shares, operating in the sector of Communication Services managed to top a trading volume set approximately around 4172878 for the day, which was evidently higher, when compared to the average daily volumes of the shares.
When it comes to the year-to-date metrics, the The9 Limited (NCTY) recorded performance in the market was 545.76%, having the revenues showcasing 77.35% on a quarterly basis in comparison with the same period year before. At the time of this writing, the total market value of the company is set at 392.51M, as it employees total of 47 workers.
The9 Limited (NCTY) in the eye of market guru’s
During the last month, 0 analysts gave the The9 Limited a BUY rating, 0 of the polled analysts branded the stock as an OVERWEIGHT, 0 analysts were recommending to HOLD this stock, 0 of them gave the stock UNDERWEIGHT rating, and 0 of the polled analysts provided SELL rating.
According to the data provided on Barchart.com, the moving average of the company in the 100-day period was set at 23.77, with a change in the price was noted +20.29. In a similar fashion, The9 Limited posted a movement of +789.49% for the period of last 100 days, recording 3,811,164 in trading volumes.
The9 Limited (NCTY): Stocks Technical analysis and Trends
Raw Stochastic average of The9 Limited in the period of last 50 days is set at 12.19%. The result represents improvement in oppose to Raw Stochastic average for the period of the last 20 days, recording 1.04%. In the last 20 days, the company’s Stochastic %K was 5.69% and its Stochastic %D was recorded 5.35%.
If we look into the earlier routines of The9 Limited, multiple moving trends are noted. Year-to-date Price performance of the company’s stock appears to be pessimistic, given the fact the metric is recording 545.76%. Additionally, trading for the stock in the period of the last six months notably improved by 603.60%, alongside a boost of 407.89% for the period of the last 12 months. The shares increased approximately by -24.65% in the 7-day charts and went up by -62.11% in the period of the last 30 days. Common stock shares were driven by 77.35% during last recorded quarter.