Li Ning (OTCMKTS:LNNGY) Stock Rating Lowered by Zacks Research

Key Points

• Li Ning has been downgraded from a "hold" to a "strong sell" rating by Zacks Research, indicating a negative outlook on the stock.
• The company’s stock opened at $60.57, with a 52-week range between $40.29 and $68.58, suggesting potential volatility in its performance.
• Li Ning is a major sports brand in China, focusing on the research, design, manufacturing, and retail of sporting goods.

Zacks Research cut shares of Li Ning (OTCMKTS:LNNGY - Free Report) from a hold rating to a strong sell rating in a research note released on Wednesday morning,Zacks.com reports.

Li Ning Stock Down 3.2%

Shares of OTCMKTS:LNNGY traded down $1.98 during mid-day trading on Wednesday, reaching $58.98. 1,444 shares of the stock were exchanged, compared to its average volume of 12,361. The stock's 50 day simple moving average is $54.91 and its 200-day simple moving average is $52.27. Li Ning has a one year low of $40.29 and a one year high of $68.58.

Li Ning Increases Dividend

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

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.