Luckin Coffee (OTCMKTS:LKNCY) Trading 0.7% Higher – Here’s What Happened

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) shot up 0.7% during mid-day trading on Wednesday . The stock traded as high as $34.37 and last traded at $33.72. 1,230,287 shares traded hands during trading, a decline of 31% from the average session volume of 1,795,820 shares. The stock had previously closed at $33.48.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded shares of Luckin Coffee from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Luckin Coffee currently has a consensus rating of “Hold” and a consensus target price of $52.00.

Luckin Coffee Stock Up 0.7%

The stock has a fifty day moving average of $35.15 and a two-hundred day moving average of $36.59. The stock has a market cap of $9.57 billion, a price-to-earnings ratio of 21.08 and a beta of -0.35.

Luckin Coffee Company Profile

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.