Wells Fargo & Co lowered shares of Ninetowns Internet Technlgy Grp (NASDAQ:NINE) from an outperform rating to a market perform rating in a research note published on Thursday morning, The Fly reports.

Other research analysts have also issued research reports about the stock. AltaCorp Capital restated a sector perform rating on shares of Ninetowns Internet Technlgy Grp in a research note on Thursday, June 20th. Zacks Investment Research downgraded shares of Ninetowns Internet Technlgy Grp from a hold rating to a strong sell rating in a report on Tuesday, July 16th. Raymond James decreased their price objective on shares of Ninetowns Internet Technlgy Grp from $28.00 to $15.00 and set a strong-buy rating for the company in a report on Tuesday, August 13th. Bank of America downgraded shares of Ninetowns Internet Technlgy Grp from a buy rating to a neutral rating in a report on Wednesday, August 28th. Finally, Citigroup decreased their price objective on shares of Ninetowns Internet Technlgy Grp from $18.00 to $10.00 and set a buy rating for the company in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Ninetowns Internet Technlgy Grp has an average rating of Buy and an average target price of $24.97.

Ninetowns Internet Technlgy Grp stock opened at $6.46 on Thursday. The firm’s 50 day moving average price is $8.37 and its two-hundred day moving average price is $17.05. Ninetowns Internet Technlgy Grp has a twelve month low of $4.85 and a twelve month high of $40.39.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Ninetowns Internet Technlgy Grp by 6.4% during the 2nd quarter. BlackRock Inc. now owns 1,027,379 shares of the company’s stock worth $17,806,000 after acquiring an additional 61,509 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Ninetowns Internet Technlgy Grp by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 690,567 shares of the company’s stock worth $11,968,000 after acquiring an additional 13,688 shares during the period. HITE Hedge Asset Management LLC lifted its holdings in shares of Ninetowns Internet Technlgy Grp by 6.1% during the 1st quarter. HITE Hedge Asset Management LLC now owns 645,859 shares of the company’s stock worth $14,629,000 after acquiring an additional 37,085 shares during the period. Boston Partners lifted its holdings in shares of Ninetowns Internet Technlgy Grp by 3.5% during the 1st quarter. Boston Partners now owns 259,904 shares of the company’s stock worth $5,887,000 after acquiring an additional 8,842 shares during the period. Finally, Balyasny Asset Management LLC bought a new position in shares of Ninetowns Internet Technlgy Grp during the 2nd quarter worth about $3,911,000.

About Ninetowns Internet Technlgy Grp

Ninetowns Internet Technology Group Company Limited is a software company that enables enterprises and trade-related People’s Republic of China Government agencies to streamline the import/export process in China. It operates in four segments: enterprise software and related maintenance services , software development services segment, B2C e-commerce and, and real estate development.

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Analyst Recommendations for Ninetowns Internet Technlgy Grp (NASDAQ:NINE)

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