Li Ning (OTCMKTS:LNNGY) Stock Price Down 5.1% - Should You Sell?

Key Points

• Li Ning's stock price dropped 5.1%, dipping to a low of $58.08 during trading, with a significantly reduced trading volume of only 14 shares.
• Zacks Research has downgraded the stock from a "hold" to a "strong sell" rating, contributing to an overall average rating of "Sell" from analysts.
• The company announced an increase in its dividend, now paying $1.1001 per share, up from $0.65, representing a dividend yield of 287.0%.

Li Ning Co. (OTCMKTS:LNNGY - Get Free Report)'s share price was down 5.1% during mid-day trading on Thursday . The stock traded as low as $58.08 and last traded at $58.37. Approximately 14 shares traded hands during trading, a decline of 100% from the average daily volume of 12,001 shares. The stock had previously closed at $61.50.

Analysts Set New Price Targets

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

Li Ning Stock Up 1.0%

The stock has a 50 day moving average price of $56.12 and a two-hundred day moving average price of $52.69.

Li Ning Increases Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid 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.