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

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on LKNCY shares. Jefferies Financial Group started coverage on Luckin Coffee in a report on Tuesday, June 9th. They issued a “buy” rating and a $43.60 price target for the company. Zacks Research upgraded Luckin Coffee from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, The Goldman Sachs Group set a $49.00 target price on shares of Luckin Coffee and gave the stock a “buy” rating in a research report on Sunday, June 21st. Three equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Strong Buy” and an average price target of $48.20.

Luckin Coffee Stock Up 2.6%

The firm has a market cap of $10.37 billion, a P/E ratio of 21.52 and a beta of -0.36. The business’s 50 day moving average is $33.16 and its 200-day moving average is $33.35.

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.