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

Li Ning Co. (OTCMKTS:LNNGY) saw a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 362 shares, a drop of 57.6% from the April 15th total of 853 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 9,186 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analyst Weigh In

LNNGY has been the topic of several research analyst reports. The Goldman Sachs Group raised Li Ning from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 22nd. Zacks Research raised 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, According to data from MarketBeat, the company has a consensus rating of “Strong Buy”.

Li Ning Trading Down 2.2%

Shares of OTCMKTS:LNNGY traded down $1.36 during midday trading on Friday, hitting $59.75. The company’s stock had a trading volume of 6,063 shares, compared to its average volume of 5,439. The stock’s 50 day simple moving average is $66.24 and its 200 day simple moving average is $63.34. Li Ning has a fifty-two week low of $45.58 and a fifty-two week high of $74.18.

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.