Li Ning (OTCMKTS:LNNGY) Shares Gap Down – Here’s What Happened

Li Ning Co. (OTCMKTS:LNNGY)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $57.10, but opened at $53.90. Li Ning shares last traded at $55.56, with a volume of 112 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LNNGY. The Goldman Sachs Group raised shares of Li Ning from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 22nd. Zacks Research downgraded shares of Li Ning from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy”.

Li Ning Stock Performance

The firm’s 50 day simple moving average is $63.24 and its 200 day simple moving average is $63.66.

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.