Li Ning Co. (OTCMKTS:LNNGY) Stock Short Interest Drops 60.5%

Li Ning Co. (OTCMKTS:LNNGY) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 3,592 shares, a decrease of 60.5% from the September 30th total of 9,086 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 43,060 shares, the days-to-cover ratio is presently 0.1 days.

Li Ning Stock Performance

Shares of LNNGY stock traded up $1.13 during mid-day trading on Friday, hitting $43.74. The company’s stock had a trading volume of 18,130 shares, compared to its average volume of 23,555. The company’s fifty day simple moving average is $41.34 and its 200-day simple moving average is $55.09. Li Ning has a 52 week low of $37.49 and a 52 week high of $74.18.

Analyst Upgrades and Downgrades

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

About Li Ning

Li Ning Co, Ltd. is a Chinese sporting goods company founded in 1990 by Olympic gymnast Li Ning. The company designs, develops, manufactures and sells sportswear and athletic equipment under the Li-Ning brand.

Its product range includes athletic and lifestyle footwear, apparel and accessories, as well as equipment for sports such as basketball, badminton, table tennis and running. The company also operates the Li-Ning Young children’s sportswear business and has developed additional brands and product lines serving different segments of the sports and fashion markets.

Li Ning primarily serves consumers in mainland China through retail stores, distributors and online channels, while also pursuing international sales and brand development.