Li Ning (OTCMKTS:LNNGY) Shares Down 5.8% – Time to Sell?

Li Ning Co. (OTCMKTS:LNNGY) fell 5.8% during mid-day trading on Monday . The stock traded as low as $63.00 and last traded at $65.19. 112 shares traded hands during trading, a decline of 96% from the average session volume of 2,893 shares. The stock had previously closed at $69.22.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut Li Ning from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Li Ning Stock Down 4.1%

The firm has a fifty day simple moving average of $59.95 and a two-hundred day simple moving average of $57.38.

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.