Ninetowns Internet Technlgy Grp (NASDAQ:NINE) had its target price dropped by equities researchers at Citigroup from $26.00 to $18.00 in a report released on Wednesday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the stock. Citigroup‘s target price would suggest a potential upside of 114.80% from the stock’s current price.

NINE has been the topic of a number of other reports. Zacks Investment Research lowered Ninetowns Internet Technlgy Grp from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 16th. AltaCorp Capital reissued a “sector perform” rating on shares of Ninetowns Internet Technlgy Grp in a report on Thursday, June 20th. Wells Fargo & Co reissued an “outperform” rating and issued a $14.00 price objective (down from $25.00) on shares of Ninetowns Internet Technlgy Grp in a report on Tuesday. Bank of America reissued a “buy” rating and issued a $21.00 price objective (down from $27.00) on shares of Ninetowns Internet Technlgy Grp in a report on Tuesday, June 25th. Finally, Raymond James cut their price objective on Ninetowns Internet Technlgy Grp from $28.00 to $15.00 and set a “strong-buy” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $27.53.

Shares of NINE stock traded down $0.53 during mid-day trading on Wednesday, reaching $8.38. The stock had a trading volume of 6,800 shares, compared to its average volume of 145,911. The business has a fifty day moving average of $13.76. Ninetowns Internet Technlgy Grp has a 1-year low of $8.68 and a 1-year high of $40.39.

A number of institutional investors have recently bought and sold shares of NINE. BlackRock Inc. lifted its position in shares of Ninetowns Internet Technlgy Grp by 6.4% in the second quarter. BlackRock Inc. now owns 1,027,379 shares of the company’s stock valued at $17,806,000 after acquiring an additional 61,509 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Ninetowns Internet Technlgy Grp by 2.0% in the second quarter. Vanguard Group Inc. now owns 690,567 shares of the company’s stock valued at $11,968,000 after acquiring an additional 13,688 shares in the last quarter. HITE Hedge Asset Management LLC lifted its position in shares of Ninetowns Internet Technlgy Grp by 6.1% in the first quarter. HITE Hedge Asset Management LLC now owns 645,859 shares of the company’s stock valued at $14,629,000 after acquiring an additional 37,085 shares in the last quarter. FMR LLC lifted its position in shares of Ninetowns Internet Technlgy Grp by 0.3% in the fourth quarter. FMR LLC now owns 326,998 shares of the company’s stock valued at $7,371,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Boston Partners lifted its position in shares of Ninetowns Internet Technlgy Grp by 3.5% in the first quarter. Boston Partners now owns 259,904 shares of the company’s stock valued at $5,887,000 after acquiring an additional 8,842 shares in the last quarter.

Ninetowns Internet Technlgy Grp Company Profile

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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