Luckin Coffee (OTCMKTS:LKNCY) Reaches New 12-Month Low – What’s Next?

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $27.22 and last traded at $27.53, with a volume of 1965572 shares traded. The stock had previously closed at $28.10.

Analysts Set New Price Targets

LKNCY has been the topic of a number of research analyst reports. Jefferies Financial Group assumed coverage on shares of Luckin Coffee in a research note on Tuesday, June 9th. They issued a “buy” rating and a $43.60 target price on the stock. Zacks Research upgraded 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 target on shares of Luckin Coffee and gave the company a “buy” rating in a report on Sunday, June 21st. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Luckin Coffee currently has an average rating of “Buy” and a consensus target price of $48.20.

Luckin Coffee Stock Performance

The stock’s 50 day simple moving average is $31.74 and its 200 day simple moving average is $33.41. The firm has a market cap of $8.95 billion, a PE ratio of 19.51 and a beta of -0.32.

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.