Luckin Coffee (OTCMKTS:LKNCY) Sets New 12-Month Low – Here’s What Happened

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY)’s stock price hit a new 52-week low on Thursday . The stock traded as low as $29.83 and last traded at $29.90, with a volume of 639637 shares traded. The stock had previously closed at $31.55.

Analyst Ratings Changes

A number of research analysts have issued reports on LKNCY shares. The Goldman Sachs Group set a $49.00 target price on shares of Luckin Coffee and gave the company a “buy” rating in a research report on Sunday, June 21st. Jefferies Financial Group assumed coverage on shares of Luckin Coffee in a research report on Tuesday, June 9th. They set a “buy” rating and a $43.60 price target for the company. Finally, Zacks Research raised shares of Luckin Coffee from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $48.20.

Luckin Coffee Price Performance

The business has a 50 day moving average of $32.07 and a 200 day moving average of $33.65. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of 18.19 and a beta of -0.31.

Luckin Coffee Company Profile

Luckin Coffee Inc is a China-based coffeehouse chain that combines a digitally driven ordering platform with a network of physical outlets. The company’s mobile app and in-store kiosks enable customers to place orders for takeaway or delivery, while its proprietary supply chain supports rapid store expansion and consistent product quality. Luckin’s retail portfolio includes “grab-and-go” pickup points, delivery-only kitchens and full-service cafés designed to meet the varied needs of urban consumers.

Luckin’s menu features a broad range of espresso-based drinks, including lattes, Americanos and cold brews, complemented by tea-based beverages, fruit juices and a selection of light food items such as sandwiches and pastries.