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

Li Ning Co. (OTCMKTS:LNNGY) was the target of a significant drop in short interest in August. As of August 14th, there was short interest totaling 2,667 shares, a drop of 44.6% from the July 30th total of 4,811 shares. Based on an average daily trading volume, of 18,162 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s stock are sold short.

Li Ning Price Performance

LNNGY traded down $0.80 during trading on Tuesday, reaching $42.57. 7,040 shares of the company were exchanged, compared to its average volume of 9,686. Li Ning has a 52 week low of $41.03 and a 52 week high of $74.18. The firm has a 50 day moving average of $46.67 and a 200 day moving average of $57.96.

Wall Street Analysts Forecast Growth

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

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.