Short Interest in Li Ning Co. (OTCMKTS:LNNGY) Decreases By 96.1%

Key Points

• Short interest in Li Ning Co. decreased by 96.1% from 49,100 shares on September 15th to just 1,900 shares by September 30th.
• Zacks Research downgraded Li Ning from a "hold" rating to a "strong sell" rating, indicating a generally negative outlook for the stock.
• The company recently increased its dividend from $0.65 to $1.1001 per share, resulting in an impressive yield of 287.0%.

Li Ning Co. (OTCMKTS:LNNGY - Get Free Report) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 1,900 shares, a decrease of 96.1% from the September 15th total of 49,100 shares. Based on an average daily trading volume, of 5,500 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 5,500 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Ratings Changes

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

Li Ning Trading Up 1.5%

LNNGY traded up $0.80 during trading on Thursday, hitting $54.78. 2,416 shares of the stock were exchanged, compared to its average volume of 3,252. The firm has a 50 day simple moving average of $57.45 and a 200 day simple moving average of $52.56. Li Ning has a 1 year low of $42.13 and a 1 year high of $65.90.

Li Ning Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were issued a dividend of $1.1001 per share. This represents a yield of 287.0%. The ex-dividend date was Thursday, September 4th. 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.

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