The9 Limited falls 14% after Roth Capital initiates with ‘hold’ rating
Rating:
The9 Limited (Nasdaq:NCTY) is off 14% after Roth Capital initiated coverage of the stock on Wednesday with a “hold” rating. The research firm set a price target for the China-based online game operator at $27. During the past year, the stock has ranged from $15.05 to $51.95. The9 is down 53% from a year ago.
In today’s trading, shares are at $24.10 at 12:16 p.m. ET, down $4.16 from Wednesday’s close. Trading volume is more than 100,000 shares above the average number.
For detailed price information and recent news stories about The9 Limited, click NCTY.
About the Author
Reporter Dianna Heitz is based in SmallCapInvestor.com's Washington, DC bureau.
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Jul 24 01:34pm
$27 not $17: Roth Capital initiated coverage of the stock on Wednesday with a “hold” rating. The research firm set a price target for the China-based online game operator at $27.
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