Luckin Coffee (OTCMKTS:LKNCY) Stock Price Up 6.5% – Time to Buy?

Shares of Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) traded up 6.5% during trading on Thursday . The company traded as high as $31.00 and last traded at $30.92. Approximately 966,635 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 1,530,772 shares. The stock had previously closed at $29.03.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LKNCY. The Goldman Sachs Group set a $49.00 target price on shares of Luckin Coffee and gave the company a “buy” rating in a report on Sunday, June 21st. Zacks Research raised shares of Luckin Coffee from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Jefferies Financial Group initiated coverage on Luckin Coffee in a research report on Tuesday, June 9th. They set a “buy” rating and a $43.60 target price on the stock. Two research 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 stock. According to data from MarketBeat, Luckin Coffee currently has a consensus rating of “Buy” and a consensus price target of $48.20.

Luckin Coffee Stock Up 6.4%

The stock has a market capitalization of $8.86 billion, a PE ratio of 19.31 and a beta of -0.32. The company has a 50-day moving average of $31.77 and a 200 day moving average of $33.44.

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.