Li Ning (OTCMKTS:LNNGY) Shares Gap Down – Time to Sell?

Li Ning Co. (OTCMKTS:LNNGY) gapped down prior to trading on Friday . The stock had previously closed at $60.29, but opened at $56.18. Li Ning shares last traded at $56.98, with a volume of 7 shares.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded Li Ning from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Li Ning currently has a consensus rating of “Sell”.

Li Ning Stock Down 0.5%

The business has a 50 day moving average price of $57.69 and a two-hundred day moving average price of $53.04.

Li Ning Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were given a dividend of $1.1001 per share. This is a boost from Li Ning’s previous dividend of $0.65. This represents a yield of 287.0%. The ex-dividend date was Thursday, September 4th.

About Li Ning

Li Ning Company Limited, a sports brand company, engages in the research and development, design, manufacture, marketing, distribution, and retail of sporting goods in the People’s Republic of China. The company offers sporting goods, including professional and leisure footwear, apparel, equipment, and accessories under the LI-NING brand.