Zacks Investment Research cut shares of Li Ning Co. (OTCMKTS:LNNGY) from a buy rating to a hold rating in a report published on Wednesday.

According to Zacks, “Li Ning Company Limited operates as a designer, developer, manufacturer and distributor of sports footwear, apparel, accessories and equipment for sport and leisure uses under its own LI-NING brand in the Peoples’ Republic of China. Additionally, the Group distributes sports products under its Z-DO brand via hypermarket channel; manufactures, markets, distributes and sells outdoor sports products under the French brand AIGLE and engages in manufacture, research and development, marketing and sale of table tennis and other sports equipment under the Double Happiness brand. The Company also develops, manufactures, markets, distributes and sells the licensed products under the Italian sports fashion brand Lotto; and engages in the research and development, manufacture and sale of professional badminton equipment under the Kason brand. Li Ning Company Limited is headquartered in Causeway Bay, Hong Kong. “

Shares of Li Ning (OTCMKTS:LNNGY) opened at 15.31 on Wednesday. The company’s 50-day moving average price is $15.31 and its 200-day moving average price is $12.80. Li Ning has a 12 month low of $10.90 and a 12 month high of $15.31.

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