Luckin Coffee (OTCMKTS:LKNCY) Shares Up 3.5% – Should You Buy?

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY)’s share price shot up 3.5% on Wednesday . The company traded as high as $32.66 and last traded at $32.60. 420,525 shares were traded during trading, a decline of 67% from the average session volume of 1,272,221 shares. The stock had previously closed at $31.50.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Luckin Coffee from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.00.

Luckin Coffee Stock Down 2.3%

The company’s fifty day simple moving average is $32.97 and its 200 day simple moving average is $34.71. The firm has a market capitalization of $8.98 billion, a PE ratio of 19.57 and a beta of -0.27.

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.