Luckin Coffee (OTCMKTS:LKNCY) Rating Lowered to Hold at Zacks Research

Luckin Coffee (OTCMKTS:LKNCY) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

LKNCY has been the subject of a number of other reports. Jefferies Financial Group assumed coverage on Luckin Coffee in a report on Tuesday, June 9th. They set a “buy” rating and a $43.60 price target for the company. BNP Paribas Exane raised shares of Luckin Coffee to an “outperform” rating and set a $48.00 target price on the stock in a research report on Tuesday, September 15th. Finally, The Goldman Sachs Group set a $49.00 price target on shares of Luckin Coffee and gave the company a “buy” rating in a report on Sunday, June 21st. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $46.87.

Luckin Coffee Stock Performance

Luckin Coffee stock opened at $33.10 on Monday. Luckin Coffee has a 52 week low of $27.22 and a 52 week high of $43.64. The firm has a market capitalization of $9.49 billion, a PE ratio of 19.70 and a beta of -0.34. The business’s 50-day simple moving average is $34.66 and its 200-day simple moving average is $32.96.

Luckin Coffee Company Profile

Luckin Coffee Inc is a China-based coffeehouse company that operates a technology-driven retail and delivery network. The company sells freshly prepared coffee beverages, including espresso-based drinks and specialty coffee, along with tea beverages, light meals, snacks and other food products.

Founded in 2017, Luckin built its business around mobile ordering, cashless payment, store-based pickup and delivery. Its locations typically emphasize convenience and standardized preparation, serving customers through a combination of pickup stores, delivery-oriented outlets and larger café locations.

Luckin primarily serves customers in mainland China and has also expanded its operations into Singapore.