Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) Sees Large Growth in Short Interest

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 2,373,197 shares, a growth of 80.4% from the September 30th total of 1,315,513 shares. Based on an average daily volume of 1,229,978 shares, the days-to-cover ratio is presently 1.9 days. Approximately 0.9% of the company’s stock are sold short.

Luckin Coffee Stock Up 2.1%

LKNCY traded up $0.64 during trading on Monday, hitting $31.56. The company had a trading volume of 1,360,121 shares, compared to its average volume of 1,394,420. The company has a market capitalization of $9.05 billion, a PE ratio of 18.79, a PEG ratio of 0.44 and a beta of -0.32. Luckin Coffee has a one year low of $27.22 and a one year high of $40.80. The firm’s 50-day moving average price is $33.78 and its 200 day moving average price is $33.49.

Analysts Set New Price Targets

LKNCY has been the subject of a number of research reports. Zacks Research cut Luckin Coffee from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. BNP Paribas Exane upgraded shares of Luckin Coffee to an “outperform” rating and set a $48.00 target price on the stock in a report on Tuesday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $46.87.

Luckin Coffee Company Profile

Luckin Coffee Inc is a China-based coffeehouse operator that sells freshly prepared coffee, tea-based beverages, fruit drinks and light food. Its menu includes espresso-based drinks, cold beverages, snacks and seasonal products, with orders placed primarily through its mobile application and fulfilled through company-operated locations and delivery or pickup services.

Founded in 2017, Luckin Coffee built its business around a technology-focused, convenience-oriented model that emphasizes mobile ordering, digitally managed stores and delivery.