Li Ning (OTCMKTS:LNNGY) Shares Gap Down – Should You Sell?

Li Ning Co. (OTCMKTS:LNNGY) shares gapped down before the market opened on Tuesday . The stock had previously closed at $57.61, but opened at $54.23. Li Ning shares last traded at $56.49, with a volume of 21 shares changing hands.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded shares of Li Ning from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Li Ning Stock Performance

The stock’s 50 day simple moving average is $56.74 and its two-hundred day simple moving average is $52.74.

Li Ning Increases Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid a $1.1001 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a dividend yield of 287.0%. This is a boost from Li Ning’s previous dividend of $0.65.

About Li Ning

Li Ning Company Limited, a sports brand company, engages in the research and development, design, manufacture, marketing, distribution, and retail of sporting goods in the People’s Republic of China. The company offers sporting goods, including professional and leisure footwear, apparel, equipment, and accessories under the LI-NING brand.