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

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $35.00, but opened at $34.03. Luckin Coffee shares last traded at $34.80, with a volume of 94,453 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LKNCY shares. Zacks Research upgraded Luckin Coffee to a “hold” rating in a research report on Thursday, November 20th. Macquarie set a $52.00 target price on shares of Luckin Coffee in a research note on Friday, September 5th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Luckin Coffee Stock Up 0.7%

The company has a market cap of $10.00 billion, a P/E ratio of 20.03 and a beta of -0.28. The firm has a fifty day moving average price of $38.01 and a 200 day moving average price of $37.59.

Luckin Coffee (OTCMKTS:LKNCY) last issued its quarterly earnings results on Monday, November 17th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.01). Luckin Coffee had a return on equity of 33.69% and a net margin of 8.45%.The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $1.94 billion.

About Luckin Coffee

Luckin Coffee Inc offers retail services of freshly brewed drinks, and pre-made food and beverage items in the People's Republic of China. It offers hot and iced freshly brewed coffee, such as Americano, Latte, Cappuccino, Macchiato, Flat White, and Mocha, as well as specialty coffee based on market and seasonal trends; coconut milk latte products; tea drinks; pre-made beverages; and pre-made food items, such as pastries, sandwiches, and snacks.