NetEase (NTES) : Traders are bullish on NetEase (NTES) as it has outperformed the S&P 500 by a wide margin of 4.38% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.07%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.12% in the last 1 week, and is up 5.46% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 2.69% and the 50-Day Moving Average is 10.58%. NetEase (NASDAQ:NTES): stock turned positive on Friday. Though the stock opened at $199.96, the bulls momentum made the stock top out at $206.49 level for the day. The stock recorded a low of $199.01 and closed the trading day at $205.87, in the green by 2.79%. The total traded volume for the day was 1,108,465. The stock had closed at $200.29 in the previous days trading.
The company Insiders own 54.7% of NetEase shares according to the proxy statements. Institutional Investors own 57.68% of NetEase shares. Also, Brean Capital initiates coverage on NetEase (NASDAQ:NTES). The shares have now been rated Buy by the stock experts at the ratings house. Brean Capital announces the current price target of $235 per share on NetEase . The rating by the firm was issued on July 18, 2016.
NetEase, Inc. (NetEase) is a holding company. The Company, through its subsidiaries and contracts with its affiliates Guangzhou NetEase Computer System Co., Ltd., Beijing Guangyitong Advertising Co., Ltd., Shanghai EaseNet Network Technology Co., Ltd., and certain other affiliated companies, operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet portal, e-mail, e-commerce and other businesses. The Company operates in three segments: Online Game Services, Advertising Services, and E-mail, E-commerce and Others. The Company conducts its business mainly in China.