Luckin Coffee (OTCMKTS:LKNCY) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY)’s share price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $33.46 and traded as high as $34.90. Luckin Coffee shares last traded at $34.65, with a volume of 5,875,823 shares changing hands.

Analyst Upgrades and Downgrades

LKNCY has been the topic of a number of analyst reports. BNP Paribas Exane raised Luckin Coffee to an “outperform” rating and set a $48.00 target price on the stock in a research report on Tuesday, September 15th. Zacks Research downgraded Luckin Coffee from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $46.87.

Luckin Coffee Trading Up 2.4%

The stock has a market capitalization of $9.73 billion, a P/E ratio of 17.53, a P/E/G ratio of 0.44 and a beta of -0.32. The stock’s 50 day simple moving average is $33.51 and its 200 day simple moving average is $33.46.

About Luckin Coffee

Luckin Coffee Inc is a China-based coffeehouse operator that sells freshly prepared coffee, tea-based beverages, fruit drinks and light food. Its menu includes espresso-based drinks, cold beverages, snacks and seasonal products, with orders placed primarily through its mobile application and fulfilled through company-operated locations and delivery or pickup services.

Founded in 2017, Luckin Coffee built its business around a technology-focused, convenience-oriented model that emphasizes mobile ordering, digitally managed stores and delivery.