Luckin Coffee (OTCMKTS:LKNCY) Trading Up 5.1% – Here’s What Happened

Shares of Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) shot up 5.1% on Monday . The stock traded as high as $32.39 and last traded at $32.16. Approximately 269,389 shares were traded during trading, a decline of 82% from the average session volume of 1,505,682 shares. The stock had previously closed at $30.60.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LKNCY shares. Zacks Research raised Luckin Coffee from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Jefferies Financial Group started coverage on Luckin Coffee in a research report on Tuesday, June 9th. They set a “buy” rating and a $43.60 price target for the company. Finally, The Goldman Sachs Group set a $49.00 price target on shares of Luckin Coffee and gave the stock a “buy” rating in a research note on Sunday, June 21st. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $48.20.

Luckin Coffee Stock Performance

The firm’s 50-day simple moving average is $31.44 and its 200 day simple moving average is $33.22. The stock has a market capitalization of $9.12 billion, a P/E ratio of 19.88 and a beta of -0.33.

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.