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

Key Points

• Shares gapped down before the open, slipping from a prior close of $73.34 to an $68.02 open and last trading at $70.5150 on an extremely low volume of just 4 shares.
• Analyst activity: Goldman Sachs upgraded Li Ning to a strong-buy (from hold) and Zacks moved the stock to hold (from strong sell), leaving MarketBeat's average rating at Buy (one Strong Buy, one Hold).
• Technical/context: the 50-day moving average is $68.34 and the 200-day moving average is $61.95, with the stock reported as trading down about 0.8%.

Li Ning Co. (OTCMKTS:LNNGY - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $73.34, but opened at $68.02. Li Ning shares last traded at $70.5150, with a volume of 4 shares.

Analysts Set New Price Targets

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

Li Ning Trading Down 0.8%

The business's fifty day moving average price is $68.34 and its 200 day moving average price is $61.95.

Li Ning Company Profile

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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