Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) Shares Shorted: Short Interest Up 80.4% in October

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 2,373,197 shares, an increase 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 currently 1.9 days. Approximately 0.9% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Zacks Research downgraded Luckin Coffee from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. BNP Paribas Exane upgraded Luckin Coffee to an “outperform” rating and set a $48.00 target price for the company in a report on Tuesday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Luckin Coffee presently has a consensus rating of “Buy” and a consensus price target of $46.87.

Luckin Coffee Trading Down 1.9%

LKNCY stock traded down $0.59 during trading on Friday, reaching $30.92. 1,020,397 shares of the stock were exchanged, compared to its average volume of 904,562. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 0.44 and a beta of -0.34. The business has a 50 day moving average price of $33.78 and a 200-day moving average price of $33.49. Luckin Coffee has a 1 year low of $27.22 and a 1 year high of $40.80.

About Luckin Coffee

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.