Luckin Coffee (OTCMKTS:LKNCY) Sees Unusually-High Trading Volume – Time to Buy?

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) shares saw an uptick in trading volume on Wednesday . Approximately 1,470,297 shares traded hands during trading, an increase of 0% from the previous session’s volume of 1,467,741 shares.The stock last traded at $33.2950 and had previously closed at $33.55.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Jefferies Financial Group began coverage on Luckin Coffee in a report on Tuesday, June 9th. They issued a “buy” rating and a $43.60 price target for the company. Zacks Research upgraded shares of Luckin Coffee from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Finally, The Goldman Sachs Group set a $49.00 target price on shares of Luckin Coffee and gave the company a “buy” rating in a research note on Sunday, June 21st. Three research analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and a consensus target price of $46.30.

Luckin Coffee Trading Down 0.1%

The stock has a 50-day simple moving average of $33.86 and a 200-day simple moving average of $33.23. The company has a market capitalization of $9.61 billion, a price-to-earnings ratio of 19.95 and a beta of -0.36.

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.