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

Key Points

• Li Ning Co. shares experienced a significant gap down, opening at $52.91 after closing at $55.43. The latest trading price is $56.08.
• Zacks Research downgraded Li Ning from a "hold" to a "strong sell" rating, contributing to a consensus rating of "Sell" from analysts.
• Li Ning recently increased its dividend to $1.1001, representing a hefty dividend yield of 287.0%, up from a previous dividend of $0.65.

Li Ning Co. (OTCMKTS:LNNGY - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $55.43, but opened at $52.91. Li Ning shares last traded at $56.08, with a volume of 328 shares trading hands.

Analyst Upgrades and Downgrades

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

Li Ning Stock Up 0.1%

The stock has a 50 day simple moving average of $57.19 and a 200-day simple moving average of $52.53.

Li Ning Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were given a $1.1001 dividend. This represents a dividend yield of 287.0%. The ex-dividend date of this dividend was Thursday, September 4th. This is a boost from Li Ning's previous dividend of $0.65.

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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