Luckin Coffee (OTCMKTS:LKNCY) Trading 6.3% Higher – What’s Next?

Shares of Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) were up 6.3% during mid-day trading on Wednesday . The company traded as high as $33.63 and last traded at $33.60. 1,082,452 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 1,526,034 shares. The stock had previously closed at $31.60.

Analyst Ratings Changes

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

Luckin Coffee Stock Performance

The firm has a market capitalization of $9.69 billion, a price-to-earnings ratio of 21.13 and a beta of -0.33. The company has a 50-day moving average price of $31.70 and a 200-day moving average price of $33.36.

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.