Luckin Coffee (OTCMKTS:LKNCY) Stock Price Up 5.4% on Analyst Upgrade

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) shares shot up 5.4% on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $36.70 and last traded at $36.70. 1,639,021 shares traded hands during mid-day trading, an increase of 13% from the average daily volume of 1,456,288 shares. The stock had previously closed at $34.83.

Separately, BNP Paribas Exane raised shares of Luckin Coffee to an “outperform” rating and set a $48.00 price objective on the stock in a research note on Tuesday, September 15th. Three research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Strong Buy” and an average target price of $46.87.

Luckin Coffee Stock Down 2.4%

The company has a market cap of $10.32 billion, a PE ratio of 18.00, a PEG ratio of 0.47 and a beta of -0.32. The company has a 50-day moving average of $33.51 and a 200-day moving average of $33.50.

About Luckin Coffee

Luckin Coffee is a Chinese coffeehouse company founded in 2017. It operates a technology-driven retail business, using mobile ordering and a network of stores to serve customers through pickup and delivery. The company’s offerings include freshly brewed coffee, tea and other beverages, along with selected food items. Its menu and promotions are designed for convenient, frequent purchases through its app and other digital channels. Luckin Coffee primarily serves customers in China and has also expanded into Singapore.