Li Ning (OTCMKTS:LNNGY) Shares Gap Down - What's Next?

Key Points

• Li Ning's shares opened at $56.98, down from a previous close of $60.96, and last traded at $58.23 with low trading volume.
• Zacks Research downgraded Li Ning's stock rating from "hold" to "strong sell", reflecting bearish sentiment among analysts.
• Li Ning announced a dividend increase to $1.1001 per share, significantly higher than the prior $0.65, resulting in a notable dividend yield of 287.0%.

Li Ning Co. (OTCMKTS:LNNGY - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $60.96, but opened at $56.98. Li Ning shares last traded at $58.23, with a volume of 210 shares changing hands.

Analyst Upgrades and Downgrades

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

Li Ning Trading Down 0.5%

The company has a 50-day moving average of $55.49 and a 200-day moving average of $52.47.

Li Ning Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be given a dividend of $1.1001 per share. The ex-dividend date of this dividend 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%.

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.