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

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. The Goldman Sachs Group set a $49.00 price target on Luckin Coffee and gave the company a “buy” rating in a research note on Sunday, June 21st. Zacks Research raised Luckin Coffee from a “strong sell” rating to a “hold” rating in a report 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 for the company. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $48.20.

Luckin Coffee Stock Performance

The firm’s 50-day moving average price is $31.72 and its 200-day moving average price is $33.39. The stock has a market capitalization of $8.95 billion, a PE ratio of 19.51 and a beta of -0.33.

About Luckin Coffee

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.