Shares of Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY – Get Free Report) saw unusually-strong trading volume on Wednesday after the company announced better than expected quarterly earnings. 2,053,329 shares changed hands during mid-day trading, an increase of 47% from the average daily volume of 1,401,532 shares. The stock last traded at $33.48 and had previously closed at $32.90.
The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.06. Luckin Coffee had a return on equity of 24.91% and a net margin of 6.78%. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.72 billion.
Analyst Ratings Changes
Several equities analysts recently issued reports on LKNCY shares. Zacks Research downgraded shares of Luckin Coffee from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. BNP Paribas Exane upgraded shares of Luckin Coffee to an “outperform” rating and set a $48.00 price objective on the stock in a report on Tuesday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Luckin Coffee currently has an average rating of “Buy” and a consensus price target of $46.87.
Check Out Our Latest Report on LKNCY
Luckin Coffee Stock Performance
The firm has a market capitalization of $9.78 billion, a price-to-earnings ratio of 20.30, a P/E/G ratio of 0.44 and a beta of -0.32. The business has a 50 day moving average of $33.64 and a two-hundred day moving average of $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.
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