Li Ning Co. (OTCMKTS:LNNGY) Short Interest Up 1,483.9% in September

Key Points

• Short interest for Li Ning Co. surged by 1,483.9% in September, reaching 49,100 shares from just 3,100 shares at the end of August.
• Li Ning recently raised its dividend to $1.1001 per share, a substantial increase from the previous $0.65, reflecting a yield of 287.0%.
• Analysts have downgraded Li Ning's stock rating from "hold" to a "strong sell," with an average rating currently categorized as "Sell."

Li Ning Co. (OTCMKTS:LNNGY - Get Free Report) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 49,100 shares, a growth of 1,483.9% from the August 31st total of 3,100 shares. Based on an average daily volume of 17,700 shares, the days-to-cover ratio is currently 2.8 days. Based on an average daily volume of 17,700 shares, the days-to-cover ratio is currently 2.8 days.

Li Ning Stock Up 0.9%

Shares of OTCMKTS:LNNGY traded up $0.51 during trading on Tuesday, reaching $55.37. 2,232 shares of the stock were exchanged, compared to its average volume of 11,655. The firm's 50-day moving average price is $57.08 and its 200 day moving average price is $52.66. Li Ning has a 12-month low of $42.13 and a 12-month high of $68.58.

Li Ning Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be issued a $1.1001 dividend. The ex-dividend date is Thursday, September 4th. This represents a yield of 287.0%. This is an increase from Li Ning's previous dividend of $0.65.

Analysts Set New Price Targets

Separately, Zacks Research downgraded Li Ning from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of "Sell".

Li Ning Company Profile

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.

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