Luckin Coffee (OTCMKTS:LKNCY) Trading Down 4.2% – Time to Sell?

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY)’s share price was down 4.2% on Wednesday . The stock 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 daily volume of 1,465,522 shares. The stock had previously closed at $36.34.

Analyst Upgrades and Downgrades

LKNCY has been the subject 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 for 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 report on Sunday, June 21st. Finally, Zacks Research upgraded Luckin Coffee from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Three research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Strong Buy” and a consensus target price of $48.20.

Luckin Coffee Stock Performance

The company has a 50-day moving average price of $33.32 and a 200-day moving average price of $33.30. The firm has a market capitalization of $10.20 billion, a P/E ratio of 21.18 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.