Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) Stock Short Interest Declines 39.6%

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totaling 1,401,064 shares, a decline of 39.6% from the August 31st total of 2,321,206 shares. Based on an average trading volume of 3,108,769 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.5% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LKNCY. Jefferies Financial Group started coverage on shares of Luckin Coffee in a report on Tuesday, June 9th. They issued a “buy” rating and a $43.60 target price on the stock. BNP Paribas Exane raised Luckin Coffee to an “outperform” rating and set a $48.00 target price on the stock in a research note on Tuesday, September 15th. The Goldman Sachs Group set a $49.00 price target on Luckin Coffee and gave the company a “buy” rating in a report on Sunday, June 21st. Finally, Zacks Research upgraded shares of Luckin Coffee from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Three investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat, Luckin Coffee has a consensus rating of “Strong Buy” and an average price target of $46.87.

Luckin Coffee Stock Performance

LKNCY opened at $34.23 on Wednesday. The stock has a market cap of $9.82 billion, a PE ratio of 20.38 and a beta of -0.36. Luckin Coffee has a 1 year low of $27.22 and a 1 year high of $43.64. The stock’s 50 day simple moving average is $34.55 and its 200-day simple moving average is $33.00.

Luckin Coffee Company Profile

Luckin Coffee Inc is a China-based coffeehouse company that operates a technology-driven retail and delivery network. The company sells freshly prepared coffee beverages, including espresso-based drinks and specialty coffee, along with tea beverages, light meals, snacks and other food products.

Founded in 2017, Luckin built its business around mobile ordering, cashless payment, store-based pickup and delivery. Its locations typically emphasize convenience and standardized preparation, serving customers through a combination of pickup stores, delivery-oriented outlets and larger café locations.

Luckin primarily serves customers in mainland China and has also expanded its operations into Singapore.