Short Interest in Li Ning Co. (OTCMKTS:LNNGY) Drops By 77.0%

Li Ning Co. (OTCMKTS:LNNGY) saw a large drop in short interest in May. As of May 29th, there was short interest totaling 29 shares, a drop of 77.0% from the May 14th total of 126 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 14,742 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

LNNGY has been the subject of several research reports. Zacks Research lowered Li Ning from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. The Goldman Sachs Group upgraded Li Ning from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 22nd. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Li Ning has a consensus rating of “Buy”.

Li Ning Stock Up 2.0%

Shares of Li Ning stock traded up $1.10 on Friday, reaching $57.41. 4,133 shares of the company were exchanged, compared to its average volume of 6,116. The stock has a fifty day moving average price of $63.00 and a 200-day moving average price of $63.66. Li Ning has a fifty-two week low of $46.54 and a fifty-two week high of $74.18.

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.