Li Ning (OTCMKTS:LNNGY) Reaches New 1-Year Low – Here’s What Happened
by Jessica Moore · The Cerbat GemLi Ning Co. (OTCMKTS:LNNGY – Get Free Report)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $48.30 and last traded at $50.59, with a volume of 105 shares. The stock had previously closed at $51.70.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on LNNGY. Zacks Research downgraded Li Ning from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. The Goldman Sachs Group raised Li Ning from a “hold” rating to a “strong-buy” rating in a research note on Sunday, March 22nd. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy”.
Read Our Latest Research Report on LNNGY
Li Ning Stock Down 3.1%
The stock’s fifty day moving average price is $61.10 and its 200-day moving average price is $63.50.
About Li Ning
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.