Li Ning (OTCMKTS:LNNGY) Reaches New 1-Year Low – Here’s Why

Li Ning Co. (OTCMKTS:LNNGY)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $45.08 and last traded at $45.74, with a volume of 1103 shares. The stock had previously closed at $46.9875.

Wall Street Analysts Forecast Growth

LNNGY has been the topic of several research analyst reports. The Goldman Sachs Group raised Li Ning from a “hold” rating to a “strong-buy” rating in a research note on Sunday, March 22nd. Zacks Research cut shares of Li Ning from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Li Ning Price Performance

The firm has a 50-day simple moving average of $57.26 and a two-hundred day simple moving average of $63.07.

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.