Luckin Coffee (OTCMKTS:LKNCY) Shares Climb 5.4% – Still a Buy?

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY)’s stock price was up 5.4% on Tuesday. The company traded as high as $36.70 and last traded at $36.70. Approximately 1,639,021 shares were traded 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.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on LKNCY shares. Zacks Research lowered Luckin Coffee from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. BNP Paribas Exane raised shares of Luckin Coffee to an “outperform” rating and set a $48.00 price objective for the company in a research report on Tuesday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Luckin Coffee has a consensus rating of “Buy” and an average price target of $46.87.

Luckin Coffee Price Performance

The stock has a market cap of $10.53 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 0.47 and a beta of -0.32. The stock has a fifty day moving average of $33.49 and a 200 day moving average of $33.47.

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.