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

Key Points

• Short interest plunged 90.2% to just 853 shares as of April 15, leaving a days-to-cover ratio of 0.0 and effectively 0.0% of the stock sold short.
• Shares traded up about 3.5% to $64.28 during mid-day trading, and the stock has received recent upgrades from Goldman Sachs and Zacks to a Strong Buy consensus.

Li Ning Co. (OTCMKTS:LNNGY - Get Free Report) saw a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 853 shares, a decrease of 90.2% from the March 31st total of 8,695 shares. Based on an average daily volume of 22,002 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company's stock are sold short.

Li Ning Trading Up 3.5%

OTCMKTS:LNNGY traded up $2.15 during mid-day trading on Friday, reaching $64.28. 3,050 shares of the stock were exchanged, compared to its average volume of 7,437. The company has a 50 day simple moving average of $68.02 and a 200-day simple moving average of $62.57. Li Ning has a 1 year low of $45.22 and a 1 year high of $74.18.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. The Goldman Sachs Group upgraded Li Ning from a "hold" rating to a "strong-buy" rating in a report on Sunday, March 22nd. Zacks Research upgraded Li Ning from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 16th. Two equities research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Strong Buy".

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.

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