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

Key Points

• Li Ning shares gapped down from a previous close of $60.29 to open at $56.18, with the last traded price at $56.98.
• Zacks Research has changed its rating for Li Ning from a "hold" to a "strong sell", marking a negative outlook for the stock.
• The company announced a dividend increase to $1.1001 per share, representing a significant yield of 287.0%, compared to the previous dividend of $0.65.

Li Ning Co. (OTCMKTS:LNNGY - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $60.29, but opened at $56.18. Li Ning shares last traded at $56.98, with a volume of 7 shares traded.

Analyst Ratings Changes

Separately, Zacks Research lowered shares of 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.com, the company presently has an average rating of "Sell".

Li Ning Stock Performance

The stock's 50 day moving average price is $57.64 and its 200-day moving average price is $52.84.

Li Ning Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were paid a dividend of $1.1001 per share. This is an increase from Li Ning's previous dividend of $0.65. This represents a dividend yield of 287.0%. The ex-dividend date of this dividend was 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.