Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $27.22 and last traded at $27.53, with a volume of 1965572 shares trading hands. The stock had previously closed at $28.10.
Analysts Set New Price Targets
A number of research firms have weighed in on LKNCY. Jefferies Financial Group began coverage on Luckin Coffee in a research report on Tuesday, June 9th. They set a “buy” rating and a $43.60 price target for the company. The Goldman Sachs Group set a $49.00 price objective on shares of Luckin Coffee and gave the company a “buy” rating in a report on Sunday, June 21st. Finally, Zacks Research raised shares of Luckin Coffee from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Luckin Coffee has a consensus rating of “Buy” and a consensus price target of $48.20.
Check Out Our Latest Stock Analysis on LKNCY
Luckin Coffee Stock Performance
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.
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