Luckin Coffee (OTCMKTS:LKNCY) Stock Price Up 5.4% – Time to Buy?

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY)’s share price was up 5.4% during trading on Tuesday. The company traded as high as $36.70 and last traded at $36.70. 1,639,021 shares changed hands during trading, an increase of 13% from the average daily volume of 1,456,288 shares. The stock had previously closed at $34.83.

Analyst Upgrades and Downgrades

LKNCY has been the subject of a number of research reports. BNP Paribas Exane upgraded Luckin Coffee to an “outperform” rating and set a $48.00 price objective for the company in a research note on Tuesday, September 15th. Zacks Research cut shares of Luckin Coffee from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $46.87.

Luckin Coffee Stock Performance

The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 0.47 and a beta of -0.32. The firm has a fifty day moving average of $33.49 and a 200-day moving average of $33.47.

Luckin Coffee Company Profile

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.