Luckin Coffee (OTCMKTS:LKNCY) Share Price Breaks Above Two Hundred Day Moving Average – What’s Next?

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY)’s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $33.46 and traded as high as $34.90. Luckin Coffee shares last traded at $34.65, with a volume of 5,875,823 shares traded.

Analyst Ratings Changes

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

Luckin Coffee Stock Performance

The firm has a market capitalization of $9.94 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 0.47 and a beta of -0.32. The firm’s 50 day moving average price is $33.62 and its 200-day moving average price is $33.46.

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.