Zacks Investment Research cut shares of Li Ning Co. (OTCMKTS:LNNGY) from a buy rating to a hold rating in a report released on Thursday morning.

According to Zacks, “Li Ning Company Limited operates as a designer, developer, manufacturer and distributor of sports footwear, apparel, accessories and equipment for sport and leisure uses under its own LI-NING brand in the Peoples’ Republic of China. Additionally, the Group distributes sports products under its Z-DO brand via hypermarket channel; manufactures, markets, distributes and sells outdoor sports products under the French brand AIGLE and engages in manufacture, research and development, marketing and sale of table tennis and other sports equipment under the Double Happiness brand. The Company also develops, manufactures, markets, distributes and sells the licensed products under the Italian sports fashion brand Lotto; and engages in the research and development, manufacture and sale of professional badminton equipment under the Kason brand. Li Ning Company Limited is headquartered in Causeway Bay, Hong Kong. “

Shares of Li Ning (OTCMKTS LNNGY) traded up 4.67% during midday trading on Thursday, reaching $18.59. The company’s stock had a trading volume of 100 shares. Li Ning has a 12 month low of $17.76 and a 12 month high of $18.59. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 16.17 and a beta of -0.82. The stock has a 50-day moving average of $18.07 and a 200 day moving average of $17.84.

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