Ninetowns Internet Technlgy Grp (NINE) Lifted to “Buy” at Tudor Pickering

Tudor Pickering upgraded shares of Ninetowns Internet Technlgy Grp (NASDAQ:NINE) from a hold rating to a buy rating in a report published on Tuesday, February 5th, MarketBeat.com reports. They currently have $24.79 price objective on the stock.

A number of other brokerages have also commented on NINE. Raymond James set a $46.00 price objective on Ninetowns Internet Technlgy Grp and gave the stock a buy rating in a report on Wednesday, November 14th. Bank of America initiated coverage on Ninetowns Internet Technlgy Grp in a research report on Wednesday, October 17th. They issued a buy rating on the stock. Wells Fargo & Co reissued a positive rating and set a $45.00 price objective on shares of Ninetowns Internet Technlgy Grp in a report on Tuesday, October 16th. Zacks Investment Research lowered shares of Ninetowns Internet Technlgy Grp from a hold rating to a strong sell rating in a research report on Tuesday, October 16th. Finally, Citigroup began coverage on shares of Ninetowns Internet Technlgy Grp in a research report on Monday, November 19th. They issued a buy rating and a $40.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $38.42.

Ninetowns Internet Technlgy Grp stock traded up $0.10 on Tuesday, reaching $26.32. The company’s stock had a trading volume of 63,564 shares, compared to its average volume of 108,010. Ninetowns Internet Technlgy Grp has a twelve month low of $20.18 and a twelve month high of $40.39.

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC lifted its position in Ninetowns Internet Technlgy Grp by 0.3% during the fourth quarter. FMR LLC now owns 326,998 shares of the company’s stock valued at $7,371,000 after buying an additional 1,100 shares in the last quarter. Millennium Management LLC acquired a new position in Ninetowns Internet Technlgy Grp during the fourth quarter valued at approximately $213,000. Legal & General Group Plc lifted its position in Ninetowns Internet Technlgy Grp by 18.8% during the fourth quarter. Legal & General Group Plc now owns 2,639 shares of the company’s stock valued at $59,000 after buying an additional 418 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in 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 in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its position in Ninetowns Internet Technlgy Grp by 356.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,217 shares of the company’s stock valued at $118,000 after buying an additional 4,074 shares in the last quarter.

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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