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

Li Ning Co. (OTCMKTS:LNNGY) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 22,690 shares, a growth of 555.4% from the August 31st total of 3,462 shares. Based on an average daily volume of 59,294 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.0% of the company’s shares are short sold.

Li Ning Stock Performance

LNNGY stock traded down $0.06 on Friday, hitting $39.14. 23,355 shares of the company were exchanged, compared to its average volume of 30,347. Li Ning has a twelve month low of $37.49 and a twelve month high of $74.18. The business’s fifty day moving average is $44.25 and its two-hundred day moving average is $54.29.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered 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 given a Sell rating to the company. According to data from MarketBeat, Li Ning presently has a consensus rating of “Moderate Buy”.

Li Ning Company Profile

Li Ning Company Limited is a Chinese sportswear and sporting-goods company founded in 1990 by Olympic gymnast Li Ning. Headquartered in Beijing, the company develops, manufactures, markets and sells products under the Li-Ning brand, including athletic footwear, apparel, accessories and sports equipment.

The company serves consumers through retail stores, distributors, e-commerce platforms and other sales channels. Its product portfolio is designed for sports and lifestyle use, with offerings associated with activities such as basketball, running, training, badminton and table tennis.