Luckin Coffee (OTCMKTS:LKNCY) Shares Up 6.5% – Should You Buy?

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) was up 6.5% during trading on Thursday . The company traded as high as $31.00 and last traded at $30.92. 966,635 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 1,530,772 shares. The stock had previously closed at $29.03.

Wall Street Analyst Weigh In

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

Luckin Coffee Price Performance

The company has a market cap of $8.86 billion, a PE ratio of 19.31 and a beta of -0.32. The business has a fifty day simple moving average of $31.77 and a two-hundred day simple moving average of $33.44.

About Luckin Coffee

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.