Li Ning (OTCMKTS:LNNGY) Hits New 12-Month Low – Here’s Why

Li Ning Co. (OTCMKTS:LNNGY)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $45.08 and last traded at $45.74, with a volume of 1103 shares changing hands. The stock had previously closed at $46.9875.

Analysts Set New Price Targets

Several brokerages have weighed in on LNNGY. The Goldman Sachs Group raised Li Ning from a “hold” rating to a “strong-buy” rating in a research note on Sunday, March 22nd. Zacks Research lowered Li Ning from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Li Ning currently has a consensus rating of “Buy”.

Li Ning Stock Up 1.6%

The company’s 50 day moving average price is $58.05 and its two-hundred day moving average price is $63.18.

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.