Luckin Coffee (OTCMKTS:LKNCY) Shares Climb 5.4% After Analyst Upgrade

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) traded up 5.4% during mid-day trading on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $36.70 and last traded at $36.70. Approximately 1,639,021 shares traded hands during mid-day trading, an increase of 13% from the average session volume of 1,456,288 shares. The stock had previously closed at $34.83.

Separately, BNP Paribas Exane raised Luckin Coffee to an “outperform” rating and set a $48.00 target price for the company in a research report on Tuesday, September 15th. Three research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, Luckin Coffee has a consensus rating of “Strong Buy” and a consensus price target of $46.87.

Luckin Coffee Trading Down 2.4%

The firm has a 50-day simple moving average of $33.51 and a two-hundred day simple moving average of $33.50. The company has a market capitalization of $10.32 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 0.47 and a beta of -0.32.

About Luckin Coffee

Luckin Coffee is a Chinese coffeehouse company founded in 2017. It operates a technology-driven retail business, using mobile ordering and a network of stores to serve customers through pickup and delivery. The company’s offerings include freshly brewed coffee, tea and other beverages, along with selected food items. Its menu and promotions are designed for convenient, frequent purchases through its app and other digital channels. Luckin Coffee primarily serves customers in China and has also expanded into Singapore.