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

Shares of Li Ning Co. (OTCMKTS:LNNGY) gapped down before the market opened on Thursday . The stock had previously closed at $57.10, but opened at $53.90. Li Ning shares last traded at $55.56, with a volume of 112 shares traded.

Analyst Upgrades and Downgrades

LNNGY has been the subject of a number of research reports. Zacks Research cut shares of Li Ning from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. The Goldman Sachs Group raised shares of 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 given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy”.

Li Ning Trading Down 0.6%

The stock’s fifty day moving average price is $63.24 and its 200-day moving average price is $63.66.

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.