Luckin Coffee (OTCMKTS:LKNCY) Trading Down 5.1% – What’s Next?

Shares of Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) traded down 5.1% during trading on Thursday . The company traded as low as $35.02 and last traded at $35.02. Approximately 443,515 shares traded hands during trading, a decline of 70% from the average session volume of 1,486,367 shares. The stock had previously closed at $36.92.

Analysts Set New Price Targets

LKNCY has been the topic of a number of analyst reports. Jefferies Financial Group began coverage on Luckin Coffee in a research note on Tuesday, June 9th. They issued a “buy” rating and a $43.60 price target on the stock. Zacks Research raised Luckin Coffee from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Finally, The Goldman Sachs Group set a $49.00 price objective on Luckin Coffee and gave the company a “buy” rating in a report on Sunday, June 21st. Three analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to data from MarketBeat, Luckin Coffee currently has an average rating of “Strong Buy” and a consensus price target of $48.20.

Luckin Coffee Stock Performance

The firm’s 50-day moving average price is $32.95 and its two-hundred day moving average price is $33.35. The firm has a market cap of $10.04 billion, a PE ratio of 20.85 and a beta of -0.36.

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.