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

Key Points

• Li Ning shares gapped down to $53.05 from a previous close of $54.70, signaling potential investor concerns as the stock currently holds a consensus rating of "Sell".
• Zacks Research has downgraded Li Ning from a "hold" to a "strong sell" rating, reflecting dwindling analyst confidence in the stock.
• The company announced an increase in dividend payments to $1.1001, a significant rise from the previous $0.65, representing a dividend yield of 287.0%.

Shares of Li Ning Co. (OTCMKTS:LNNGY - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $54.70, but opened at $53.05. Li Ning shares last traded at $55.32, with a volume of 22 shares.

Analyst Ratings Changes

Separately, Zacks Research cut Li Ning from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of "Sell".

Li Ning Trading Up 0.6%

The company has a fifty day simple moving average of $57.05 and a 200-day simple moving average of $52.69.

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 given a $1.1001 dividend. The ex-dividend date is Thursday, September 4th. This is a positive change from Li Ning's previous dividend of $0.65. This represents a dividend yield of 287.0%.

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.

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