Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY – Get Free Report) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 2,373,197 shares, a growth of 80.4% from the September 30th total of 1,315,513 shares. Based on an average daily volume of 1,229,978 shares, the days-to-cover ratio is currently 1.9 days. Approximately 0.9% of the shares of the company are short sold.
Analysts Set New Price Targets
A number of research analysts recently issued reports on LKNCY shares. Zacks Research lowered Luckin Coffee from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. BNP Paribas Exane raised Luckin Coffee to an “outperform” rating and set a $48.00 target price on the stock in a report on Tuesday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $46.87.
Read Our Latest Analysis on Luckin Coffee
Luckin Coffee Stock Up 0.9%
Shares of OTCMKTS:LKNCY opened at $31.20 on Tuesday. The company’s fifty day moving average is $33.68 and its two-hundred day moving average is $33.47. The company has a market cap of $8.95 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 0.46 and a beta of -0.34. Luckin Coffee has a 12-month low of $27.22 and a 12-month high of $40.80.
About Luckin Coffee
Luckin Coffee Inc is a China-based coffeehouse operator that sells freshly prepared coffee, tea-based beverages, fruit drinks and light food. Its menu includes espresso-based drinks, cold beverages, snacks and seasonal products, with orders placed primarily through its mobile application and fulfilled through company-operated locations and delivery or pickup services.
Founded in 2017, Luckin Coffee built its business around a technology-focused, convenience-oriented model that emphasizes mobile ordering, digitally managed stores and delivery.
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