Li Ning Co. (OTCMKTS:LNNGY) Sees Significant Decrease in Short Interest

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 stock are short sold. Based on an average daily trading volume, of 14,742 shares, the short-interest ratio is presently 0.0 days.

Li Ning Trading Down 0.4%

LNNGY opened at $57.10 on Wednesday. The business’s 50-day moving average price is $63.45 and its 200-day moving average price is $63.66. Li Ning has a 12 month low of $46.54 and a 12 month high of $74.18.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LNNGY. Zacks Research cut Li Ning from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. The Goldman Sachs Group raised Li Ning from a “hold” rating to a “strong-buy” rating in a 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

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.