Li Ning Co. (OTCMKTS:LNNGY) Sees Large Growth in Short Interest

Li Ning Co. (OTCMKTS:LNNGY) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 5,135 shares, a growth of 1,504.7% from the June 30th total of 320 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 41,064 shares, the days-to-cover ratio is presently 0.1 days.

Li Ning Trading Down 1.7%

Shares of LNNGY traded down $0.81 on Friday, reaching $46.18. The company’s stock had a trading volume of 8,999 shares, compared to its average volume of 17,359. Li Ning has a twelve month low of $45.03 and a twelve month high of $74.18. The firm has a fifty day moving average of $52.22 and a 200-day moving average of $61.57.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded shares of Li Ning from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate 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.