Li Ning (OTCMKTS:LNNGY) Shares Gap Down - Time to Sell?

Key Points

• Li Ning Co. shares experienced a significant gap down, opening at $58.11 after a previous close of $60.27.
• Zacks Research downgraded Li Ning from a "hold" rating to a "strong sell" rating, contributing to a current consensus rating of "Sell" from analysts.
• The company announced an increase in its dividend to $1.1001, with a notable yield of 287.0%, reflecting a positive change from its earlier dividend of $0.65.

Li Ning Co. (OTCMKTS:LNNGY - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $60.27, but opened at $58.11. Li Ning shares last traded at $60.45, with a volume of 133 shares.

Analyst Ratings Changes

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, the company currently has an average rating of "Sell".

Li Ning Price Performance

The firm has a fifty day moving average of $56.02 and a 200-day moving average 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 dividend of $1.1001 per share. This is a boost from Li Ning's previous dividend of $0.65. This represents a dividend yield of 287.0%. The ex-dividend date is Thursday, September 4th.

About Li Ning

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.