The9 Limited (NCTY) shares are trading at higher $0.33 and the avg recommendation for the stock is Moderate Sell.
To add more color to this target, the company’s high over the last year is $1.34 and the low is $0.30. Over the last 52 weeks, NCTY is down -63.67% while the S&P 500 is up 18.28%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
NCTY Return on Equity (ROE) is 26.60%, and its Return on Assets is -96.50%. All told, it is clear that, NCTY needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. NCTY has a short ratio of 0.52 and outstanding shares of 42.84M.
NCTY has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 14.33 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.71. The9 Limited NCTY also noted assets of $28.45 million at the end of the last quarter. Investors should also keep an eye on sector updates as NCTY has historically followed its peers on positive news.
All told, The9 Limited NCTY has strung together solid data and demonstrated underlying fundamentals. At its current valuation, NCTY represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
The9 Limited NCTY is now commanding a market cap of 28.60M and a float of 22.58M. NCTY is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of NCTY stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in NCTY, either long or short, and we have not been compensated for this article.