Shares of NetEase (NTES) Sees Large Outflow of Money

NetEase (NTES) : Money flow in the NetEase (NTES) stock was negative (1.73 million) on Thursday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $2.73 million, compared to $4.46 million on downticks. The total uptick to downtick ratio was 0.61, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($2.16 million), indicating selling on the strength. Downtick transaction value in block trades amounted to $2.16 million, indicating persistent selling. NetEase (NTES) traded $0.48 higher at $186.6 gaining 0.26% over the previous days close.


NetEase (NTES) : The most positive equity analysts on NetEase (NTES) expects the shares to touch $202, whereas, the least positive believes that the stock will trade at $175 in the short term. The company is covered by 2 Wall Street Brokerage Firms. The average price target for shares are $188.5 with an expected fluctuation of $19.09 from the mean. The stock has recorded a 20-day Moving Average of 9.44% and the 50-Day Moving Average is 15.88%.

NetEase (NASDAQ:NTES): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $185.00 and $185.00 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $189.41. The buying momentum continued till the end and the stock did not give up its gains. It closed at $188.44, notching a gain of 1.25% for the day. The total traded volume was 1,174,750 . The stock had closed at $186.12 on the previous day.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.