Li Ning (OTCMKTS:LNNGY) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Unusually-high trading volume: About 64,771 shares traded Wednesday, a 1,366% jump from the prior session's 4,417 shares, with the stock last at $69.45 (up ~1.5% intraday from $68.39).
• Analyst upgrades: Goldman Sachs upgraded Li Ning from "hold" to "strong-buy" (Mar. 22) and Zacks moved the stock from "strong sell" to "hold" (Mar. 17), leaving a consensus rating of Buy (one Strong Buy, one Hold).
• Technical/positioning: The shares are trading above both the 50-day ($67.56) and 200-day ($61.12) moving averages, and Li Ning is a leading Chinese sportswear company with a broad retail and e-commerce distribution network.

Li Ning Co. (OTCMKTS:LNNGY - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 64,771 shares were traded during trading, an increase of 1,366% from the previous session's volume of 4,417 shares.The stock last traded at $69.45 and had previously closed at $68.39.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LNNGY. The Goldman Sachs Group raised Li Ning from a "hold" rating to a "strong-buy" rating in a research note on Sunday, March 22nd. Zacks Research raised shares of Li Ning from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Li Ning currently has a consensus rating of "Buy".

Li Ning Trading Up 1.5%

The company's 50-day moving average price is $67.56 and its 200 day moving average price is $61.12.

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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