Li Ning Co. (OTCMKTS:LNNGY) Sees Large Drop in Short Interest

Li Ning Co. (OTCMKTS:LNNGY) saw a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 2,667 shares, a drop of 44.6% from the July 30th total of 4,811 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 18,162 shares, the short-interest ratio is presently 0.1 days.

Li Ning Trading Up 0.5%

LNNGY traded up $0.22 during trading on Friday, hitting $43.49. 13,392 shares of the stock were exchanged, compared to its average volume of 19,249. The firm has a 50 day simple moving average of $46.80 and a 200 day simple moving average of $58.23. Li Ning has a 1 year low of $41.59 and a 1 year high of $74.18.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut shares of Li Ning from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

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.