Li Ning Co. (OTCMKTS:LNNGY) Sees Large Drop in Short Interest

Li Ning Co. (OTCMKTS:LNNGY) was the target of a significant drop in short interest in April. As of April 30th, there was short interest totaling 362 shares, a drop of 57.6% from the April 15th total of 853 shares. Based on an average trading volume of 9,186 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LNNGY. Zacks Research upgraded Li Ning from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. The Goldman Sachs Group upgraded Li Ning from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 22nd. Two analysts have rated the stock with a Strong Buy rating, According to MarketBeat, Li Ning currently has an average rating of “Strong Buy”.

Li Ning Price Performance

OTCMKTS LNNGY traded down $1.36 during trading on Friday, hitting $59.75. 6,063 shares of the company traded hands, compared to its average volume of 5,439. Li Ning has a 12 month low of $45.58 and a 12 month high of $74.18. The business has a fifty day simple moving average of $66.24 and a 200 day simple moving average of $63.34.

Li Ning Company Profile

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.