Li Ning Co. (OTCMKTS:LNNGY) Sees Significant Decrease in Short Interest

Li Ning Co. (OTCMKTS:LNNGY) was the target of a large decrease in short interest in May. As of May 29th, there was short interest totaling 29 shares, a decrease of 77.0% from the May 14th total of 126 shares. Based on an average daily volume of 14,742 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several analysts have issued reports on LNNGY shares. The Goldman Sachs Group upgraded shares of Li Ning from a “hold” rating to a “strong-buy” rating in a research note on Sunday, March 22nd. Zacks Research cut Li Ning from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Li Ning Stock Down 0.4%

Shares of LNNGY opened at $57.10 on Wednesday. The firm’s 50 day simple moving average is $63.45 and its 200 day simple moving average is $63.66. Li Ning has a 1-year low of $46.54 and a 1-year high of $74.18.

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.