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

Li Ning Co. (OTCMKTS:LNNGY)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $68.47, but opened at $65.50. Li Ning shares last traded at $67.24, with a volume of 25 shares trading hands.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Zacks Research upgraded shares of Li Ning from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 16th. The Goldman Sachs Group raised shares of Li Ning from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 22nd. Two analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, Li Ning presently has an average rating of “Strong Buy”.

Li Ning Trading Down 5.7%

The company’s 50-day moving average is $68.12 and its two-hundred day moving average is $62.51.

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.