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

Li Ning Co. (OTCMKTS:LNNGY) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totaling 853 shares, a decline of 90.2% from the March 31st total of 8,695 shares. Based on an average daily trading volume, of 22,002 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

Li Ning Stock Up 3.5%

Shares of LNNGY stock opened at $64.28 on Friday. The business has a 50-day moving average price of $68.02 and a two-hundred day moving average price of $62.57. Li Ning has a 12-month low of $45.22 and a 12-month 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.