Li Ning (OTCMKTS:LNNGY) Shares Gap Down – Here’s Why

Li Ning Co. (OTCMKTS:LNNGY)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $65.10, but opened at $62.39. Li Ning shares last traded at $63.4755, with a volume of 52 shares changing hands.

Analyst Ratings Changes

LNNGY has been the subject of a number of recent analyst reports. The Goldman Sachs Group upgraded shares of Li Ning from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 22nd. Zacks Research upgraded shares of Li Ning from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, Li Ning presently has a consensus rating of “Strong Buy”.

Li Ning Stock Performance

The stock’s 50-day moving average price is $67.28 and its 200-day moving average price is $63.10.

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.