Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) Stock Short Interest Declines 39.6%

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 1,401,064 shares, a drop of 39.6% from the August 31st total of 2,321,206 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 3,108,769 shares, the short-interest ratio is presently 0.5 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LKNCY. BNP Paribas Exane upgraded shares of Luckin Coffee to an “outperform” rating and set a $48.00 price target for the company in a report on Tuesday, September 15th. The Goldman Sachs Group set a $49.00 price target on Luckin Coffee and gave the stock a “buy” rating in a report on Sunday, June 21st. Zacks Research raised shares of Luckin Coffee from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Finally, Jefferies Financial Group assumed coverage on Luckin Coffee in a report on Tuesday, June 9th. They set a “buy” rating and a $43.60 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Strong Buy” and an average target price of $46.87.

Luckin Coffee Stock Performance

OTCMKTS:LKNCY opened at $34.23 on Wednesday. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of 20.38 and a beta of -0.36. Luckin Coffee has a one year low of $27.22 and a one year high of $43.64. The stock has a 50-day simple moving average of $34.55 and a 200 day simple moving average of $33.00.

About Luckin Coffee

Luckin Coffee Inc is a China-based coffeehouse company that operates a technology-driven retail and delivery network. The company sells freshly prepared coffee beverages, including espresso-based drinks and specialty coffee, along with tea beverages, light meals, snacks and other food products.

Founded in 2017, Luckin built its business around mobile ordering, cashless payment, store-based pickup and delivery. Its locations typically emphasize convenience and standardized preparation, serving customers through a combination of pickup stores, delivery-oriented outlets and larger café locations.

Luckin primarily serves customers in mainland China and has also expanded its operations into Singapore.