Luckin Coffee (OTCMKTS:LKNCY) Stock Price Down 4.2% – Here’s What Happened

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) shares fell 4.2% on Wednesday . The company traded as low as $34.80 and last traded at $34.80. Approximately 494,676 shares traded hands during trading, a decline of 66% from the average session volume of 1,465,522 shares. The stock had previously closed at $36.34.

Analyst Ratings Changes

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

Luckin Coffee Price Performance

The stock’s 50-day moving average is $33.49 and its two-hundred day moving average is $33.29. The stock has a market cap of $9.74 billion, a P/E ratio of 20.21 and a beta of -0.36.

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.