Ninetowns Internet Technlgy Grp (NASDAQ:NINE) had its price objective lowered by Credit Suisse Group from $36.00 to $34.00 in a research report released on Tuesday morning. The brokerage currently has an outperform rating on the stock.

A number of other research analysts have also weighed in on the company. Zacks Investment Research lowered Ninetowns Internet Technlgy Grp from a hold rating to a strong sell rating in a report on Wednesday, July 18th. Tudor Pickering lowered Ninetowns Internet Technlgy Grp from a buy rating to a hold rating in a report on Friday, June 8th. Finally, Raymond James started coverage on Ninetowns Internet Technlgy Grp in a report on Wednesday, June 13th. They issued a strong-buy rating on the stock. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Ninetowns Internet Technlgy Grp has an average rating of Buy and an average price target of $31.95.

Shares of NINE stock opened at $29.71 on Tuesday. Ninetowns Internet Technlgy Grp has a fifty-two week low of $22.23 and a fifty-two week high of $39.25.

Ninetowns Internet Technlgy Grp (NASDAQ:NINE) last announced its quarterly earnings data on Monday, August 13th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.17. The firm had revenue of $205.49 million during the quarter, compared to analyst estimates of $190.71 million.

A number of institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System acquired a new stake in Ninetowns Internet Technlgy Grp during the second quarter worth about $228,000. Millennium Management LLC acquired a new stake in Ninetowns Internet Technlgy Grp during the second quarter worth about $2,615,000. Macquarie Group Ltd. acquired a new stake in Ninetowns Internet Technlgy Grp during the second quarter worth about $162,000. Bank of America Corp DE grew its holdings in Ninetowns Internet Technlgy Grp by 73.6% during the second quarter. Bank of America Corp DE now owns 25,114 shares of the company’s stock worth $831,000 after acquiring an additional 10,650 shares during the period. Finally, Proxima Capital Management LLC acquired a new stake in Ninetowns Internet Technlgy Grp during the second quarter worth about $224,000.

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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