Ninetowns Internet Technlgy Grp Co Ltd. (NASDAQ:NINE)’s share price reached a new 52-week low on Wednesday . The company traded as low as $15.89 and last traded at $15.89, with a volume of 809 shares traded. The stock had previously closed at $16.64.

A number of brokerages recently issued reports on NINE. Zacks Investment Research upgraded shares of Ninetowns Internet Technlgy Grp from a “sell” rating to a “hold” rating in a report on Friday, March 8th. Raymond James upped their price objective on shares of Ninetowns Internet Technlgy Grp from $31.00 to $32.00 and gave the stock a “strong-buy” rating in a report on Friday, March 8th. Finally, Goldman Sachs Group began coverage on shares of Ninetowns Internet Technlgy Grp in a report on Sunday, March 10th. They issued a “buy” rating and a $33.00 price objective for the company. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Ninetowns Internet Technlgy Grp presently has an average rating of “Buy” and an average target price of $36.75.

In other Ninetowns Internet Technlgy Grp news, insider David Crombie sold 27,011 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $21.61, for a total transaction of $583,707.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Theodore R. Moore sold 8,730 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $21.54, for a total transaction of $188,044.20. The disclosure for this sale can be found here.

Hedge funds have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans raised its position in shares of Ninetowns Internet Technlgy Grp by 40.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,200,684 shares of the company’s stock valued at $27,064,000 after buying an additional 344,608 shares during the last quarter. HITE Hedge Asset Management LLC raised its position in shares of Ninetowns Internet Technlgy Grp by 6.1% during the first quarter. HITE Hedge Asset Management LLC now owns 645,859 shares of the company’s stock valued at $14,629,000 after buying an additional 37,085 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Ninetowns Internet Technlgy Grp by 73.9% during the third quarter. Vanguard Group Inc. now owns 640,070 shares of the company’s stock valued at $19,573,000 after buying an additional 272,038 shares during the last quarter. Encompass Capital Advisors LLC raised its position in shares of Ninetowns Internet Technlgy Grp by 0.4% during the first quarter. Encompass Capital Advisors LLC now owns 606,595 shares of the company’s stock valued at $13,739,000 after buying an additional 2,426 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its position in shares of Ninetowns Internet Technlgy Grp by 446.8% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 430,129 shares of the company’s stock valued at $9,742,000 after buying an additional 351,470 shares during the last quarter.

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Ninetowns Internet Technlgy Grp Company Profile (NASDAQ:NINE)

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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