Li Ning (OTCMKTS:LNNGY) Shares Gap Down – Should You Sell?

Li Ning Co. (OTCMKTS:LNNGY) gapped down prior to trading on Tuesday . The stock had previously closed at $65.38, but opened at $62.73. Li Ning shares last traded at $65.24, with a volume of 81 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded Li Ning from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Li Ning Stock Performance

The company’s 50 day simple moving average is $60.14 and its two-hundred day simple moving average is $57.47.

About Li Ning

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.