Li Ning Co. (OTCMKTS:LNNGY) Sees Significant Decline in Short Interest
by Amy Steele · The Cerbat GemLi Ning Co. (OTCMKTS:LNNGY – Get Free Report) was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totaling 853 shares, a drop of 90.2% from the March 31st total of 8,695 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 22,002 shares, the days-to-cover ratio is presently 0.0 days.
Li Ning Stock Up 3.5%
Li Ning stock traded up $2.15 during mid-day trading on Friday, reaching $64.28. 3,050 shares of the company were exchanged, compared to its average volume of 7,437. Li Ning has a twelve month low of $45.22 and a twelve month high of $74.18. The firm’s 50-day simple moving average is $68.02 and its two-hundred day simple moving average is $62.57.
Analyst Ratings Changes
A number of analysts have weighed in on the company. The Goldman Sachs Group raised Li Ning from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 22nd. Zacks Research raised Li Ning from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. Two equities research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Strong Buy”.
Read Our Latest Stock Analysis on Li Ning
About Li Ning
Li Ning Company Limited is a leading Chinese sportswear company engaged in the design, development, manufacturing and sale of athletic and lifestyle products. The company’s portfolio includes performance footwear, apparel and accessories tailored for running, basketball, training and other fitness activities. Li Ning distributes its products through an extensive network of concept stores, franchise outlets and e-commerce platforms across China and growing markets overseas.
Founded in 1990 by Li Ning, a decorated Olympic gymnast, the company quickly gained prominence in domestic and international markets.