Li Ning (OTCMKTS:LNNGY) Shares Gap Down – Here’s Why

Li Ning Co. (OTCMKTS:LNNGY)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $61.55, but opened at $58.71. Li Ning shares last traded at $62.07, with a volume of 55 shares.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Li Ning from a “strong sell” rating to a “hold” rating in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Li Ning has a consensus rating of “Hold”.

Li Ning Stock Performance

The business’s 50 day simple moving average is $56.78 and its two-hundred day simple moving average is $55.61.

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.