Short Interest in Li Ning Co. (OTCMKTS:LNNGY) Declines By 38.0%

Key Points

• Short interest in Li Ning Co. decreased by 38.0% in August, dropping from 5,000 shares to 3,100 shares, indicating a current short interest of 0.0% of the company's stock.
• Analyst ratings for Li Ning have been adjusted, with Zacks Research lowering its rating from "hold" to a "strong sell," contributing to a consensus rating of "Sell."
• Li Ning declared a significant dividend increase, now paying $1.1001 per share, which translates to a 287.0% dividend yield, payable on October 1st.

Li Ning Co. (OTCMKTS:LNNGY - Get Free Report) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 3,100 shares, a decline of 38.0% from the August 15th total of 5,000 shares. Currently, 0.0% of the company's stock are short sold. Based on an average daily volume of 4,300 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily volume of 4,300 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.0% of the company's stock are short sold.

Analyst Ratings Changes

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

Li Ning Trading Up 1.8%

Shares of Li Ning stock traded up $1.08 during trading hours on Monday, reaching $59.29. 1,142 shares of the stock traded hands, compared to its average volume of 12,207. The company has a 50 day moving average price of $56.02 and a 200 day moving average price of $52.66. Li Ning has a one year low of $40.38 and a one year high of $68.58.

Li Ning Increases Dividend

The company also recently declared a dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be paid a dividend of $1.1001 per share. The ex-dividend date is Thursday, September 4th. This represents a dividend yield of 287.0%. This is an increase 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.

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.