Let’s start up with the current stock price of The9 Limited (NCTY), which is $1.25 to be very precise. The Stock rose vividly during the last session to $1.49 after opening rate of $1.36 while the lowest price it went was recorded $1.25 before closing at $1.48.Recently in News on May 11, 2022, The9 Limited and SolarCoin, a Kyrgyzstan Cryptomining Company, Signed Contract on Purchase of Computing Center. The9 Limited (Nasdaq: NCTY) (“The9”), an established Internet company, today announced that its wholly-owned subsidiary NBTC Limited and Kyrgyzstan enterprise SolarCoin LLC (hereinafter referred to as “SolarCoin”) have signed a Purchase Agreement (the “Agreement”) regarding a block chain computing center in Kyrgyzstan, pursuant to which The9 will obtain 31.5MW electricity capacity for the deployment of its 7,500 Antminer S19J Bitcoin mining machines contributing approximately 675PH/s hash power. The parties are looking forward to complete the construction work and have the computing center powered on around the end of July 2022. The expected electricity cost of the computing center is US$0.05/kWh. You can read further details here
The9 Limited had a pretty Dodgy run when it comes to the market performance. The 1-year high price for the company’s stock is recorded $7.0800 on 01/03/22, with the lowest value was $1.2500 for the same time period, recorded on 05/11/22.
The9 Limited (NCTY) full year performance was -92.41%
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 -94.15% during the 52-week period from high price, and -13.19% 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 $1.44 and $21.36.
The company’s shares, operating in the sector of Communication Services managed to top a trading volume set approximately around 511601 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 -81.34%, having the revenues showcasing -72.59% 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 33.38M, as it employees total of 47 workers.
Specialists analysis on The9 Limited (NCTY)
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 4.1018, with a change in the price was noted -7.63. In a similar fashion, The9 Limited posted a movement of -85.92% for the period of last 100 days, recording 331,830 in trading volumes.
Total Debt to Equity Ratio (D/E) can also provide valuable insight into the company’s financial health and market status. The debt to equity ratio can be calculated by dividing the present total liabilities of a company by shareholders’ equity. Debt to Equity thus makes a valuable metrics that describes the debt, company is using in order to support assets, correlating with the value of shareholders’ equity The total Debt to Equity ratio for NCTY is recording 0.07 at the time of this writing. In addition, long term Debt to Equity ratio is set at 0.00.
Trends and Technical analysis: The9 Limited (NCTY)
Raw Stochastic average of The9 Limited in the period of last 50 days is set at 0.00%. The result represents improvement in oppose to Raw Stochastic average for the period of the last 20 days, recording 0.00%. In the last 20 days, the company’s Stochastic %K was 3.47% and its Stochastic %D was recorded 3.43%.
Now, considering the stocks previous presentation, multiple moving trends are noted. Year-to-date Price performance of the company’s stock appears to be encouraging, given the fact the metric is recording -81.34%. Additionally, trading for the stock in the period of the last six months notably deteriorated by -88.71%, alongside a downfall of -92.41% for the period of the last 12 months. The shares increased approximately by -48.56% in the 7-day charts and went up by -53.36% in the period of the last 30 days. Common stock shares were lifted by -72.59% during last recorded quarter.