Luckin Coffee (OTCMKTS:LKNCY) Shares Up 3.5% – What’s Next?

Shares of Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) shot up 3.5% on Wednesday . The stock traded as high as $32.66 and last traded at $32.60. 420,525 shares were traded during mid-day trading, a decline of 67% from the average session volume of 1,272,221 shares. The stock had previously closed at $31.50.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Luckin Coffee from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Luckin Coffee Trading Up 3.5%

The company has a 50-day moving average of $33.03 and a 200-day moving average of $34.77. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 20.38 and a beta of -0.27.

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.