Li Ning (OTCMKTS:LNNGY) Shares Gap Down – Here’s What Happened

Li Ning Co. (OTCMKTS:LNNGY) shares gapped down prior to trading on Thursday . The stock had previously closed at $63.29, but opened at $58.74. Li Ning shares last traded at $60.3705, with a volume of 94 shares.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of Li Ning from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 16th. The Goldman Sachs Group raised shares of Li Ning from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Li Ning Stock Performance

The stock’s 50-day simple moving average is $66.10 and its two-hundred day simple moving average is $63.31.

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.