Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) Stock Short Interest Falls 39.6%

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 1,401,064 shares, a decrease of 39.6% from the August 31st total of 2,321,206 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average trading volume of 3,108,769 shares, the short-interest ratio is presently 0.5 days.

Luckin Coffee Stock Down 2.6%

Luckin Coffee stock traded down $0.87 during mid-day trading on Thursday, reaching $33.14. 759,275 shares of the company’s stock traded hands, compared to its average volume of 1,446,398. Luckin Coffee has a 12-month low of $27.22 and a 12-month high of $43.64. The stock has a 50 day moving average of $34.58 and a two-hundred day moving average of $33.00. The company has a market cap of $9.50 billion, a price-to-earnings ratio of 19.73 and a beta of -0.36.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Zacks Research raised Luckin Coffee from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. The Goldman Sachs Group set a $49.00 price objective on shares of Luckin Coffee and gave the company a “buy” rating in a research report on Sunday, June 21st. Jefferies Financial Group initiated coverage on shares of Luckin Coffee in a research report on Tuesday, June 9th. They set a “buy” rating and a $43.60 target price for the company. Finally, BNP Paribas Exane upgraded shares of Luckin Coffee to an “outperform” rating and set a $48.00 price target on the stock in a report on Tuesday, September 15th. Three analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Strong Buy” and an average target price of $46.87.

About Luckin Coffee

Luckin Coffee Inc is a China-based coffeehouse company that operates a technology-driven retail and delivery network. The company sells freshly prepared coffee beverages, including espresso-based drinks and specialty coffee, along with tea beverages, light meals, snacks and other food products.

Founded in 2017, Luckin built its business around mobile ordering, cashless payment, store-based pickup and delivery. Its locations typically emphasize convenience and standardized preparation, serving customers through a combination of pickup stores, delivery-oriented outlets and larger café locations.

Luckin primarily serves customers in mainland China and has also expanded its operations into Singapore.