Analysts Set Luckin Coffee Inc. (NYSE:LK) Price Target at $25.60
Luckin Coffee Inc. (NYSE:LK) has earned a consensus recommendation of “Buy” from the seven analysts that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $25.60.
Several equities analysts recently commented on the company. Zacks Investment Research downgraded Luckin Coffee from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. KeyCorp upped their price objective on Luckin Coffee from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th.
Shares of LK stock traded down $0.58 during trading on Tuesday, hitting $19.08. The company’s stock had a trading volume of 2,192,394 shares, compared to its average volume of 4,055,990. The business’s fifty day moving average is $20.19. Luckin Coffee has a 52 week low of $13.71 and a 52 week high of $27.12.
A number of institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC purchased a new stake in shares of Luckin Coffee during the second quarter worth $38,000. Holocene Advisors LP purchased a new stake in shares of Luckin Coffee during the second quarter worth $4,020,000. Athanor Capital LP purchased a new stake in shares of Luckin Coffee during the second quarter worth $2,234,000. Janus Henderson Group PLC purchased a new stake in shares of Luckin Coffee during the second quarter worth $25,180,000. Finally, Laurion Capital Management LP purchased a new stake in shares of Luckin Coffee during the second quarter worth $975,000.
Luckin Coffee Company Profile
Luckin Coffee Inc engages in the retail sale of freshly brewed drinks, and pre-made food and beverage items in the People's Republic of China. It offers freshly brewed drinks, including freshly brewed coffee and non-coffee drinks; and food and beverage items, such as light meals. The company operates pick-up stores, relax stores, and delivery kitchens under the Luckin brand, as well as Luckin mobile app, Weixin mini-program, and other third-party platforms that cover the customer purchase process.
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