Li Ning (OTCMKTS:LNNGY) Shares Gap Up – Time to Buy?

Li Ning Co. (OTCMKTS:LNNGY) shares gapped up prior to trading on Thursday . The stock had previously closed at $69.56, but opened at $72.0050. Li Ning shares last traded at $72.2687, with a volume of 176 shares traded.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LNNGY. The Goldman Sachs Group raised Li Ning from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 22nd. Zacks Research raised Li Ning from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Li Ning presently has a consensus rating of “Buy”.

Li Ning Stock Up 4.0%

The stock has a fifty day moving average price of $67.90 and a 200-day moving average price of $61.56.

Li Ning Company Profile

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.