Luckin Coffee (OTCMKTS:LKNCY) Sets New 1-Year Low – What’s Next?

Shares of Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) hit a new 52-week low during trading on Thursday . The stock traded as low as $29.83 and last traded at $29.90, with a volume of 639637 shares changing hands. The stock had previously closed at $31.55.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LKNCY. The Goldman Sachs Group set a $49.00 price target on shares of Luckin Coffee and gave the stock a “buy” rating in a report on Sunday. 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 target price on the stock. Finally, Zacks Research raised Luckin Coffee from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $48.20.

Luckin Coffee Stock Performance

The company’s 50 day simple moving average is $32.23 and its 200-day simple moving average is $33.73. The firm has a market capitalization of $8.57 billion, a PE ratio of 18.68 and a beta of -0.31.

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.