Li Ning (OTCMKTS:LNNGY) Stock Passes Above 50 Day Moving Average – Here’s Why

Li Ning Co. (OTCMKTS:LNNGY)’s stock price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $61.13 and traded as high as $67.32. Li Ning shares last traded at $65.08, with a volume of 3,119 shares traded.

Analyst Upgrades and Downgrades

Separately, Zacks Research downgraded shares of Li Ning from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Li Ning Trading Up 2.8%

The firm’s 50 day simple moving average is $61.13 and its two-hundred day simple moving average is $58.04.

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.