Luckin Coffee (OTCMKTS:LKNCY) Trading Down 5.8% – Here’s Why

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY)’s stock price was down 5.8% during trading on Tuesday . The company traded as low as $37.44 and last traded at $37.69. Approximately 1,561,755 shares changed hands during trading, a decline of 30% from the average daily volume of 2,218,015 shares. The stock had previously closed at $40.00.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Dbs Bank upgraded Luckin Coffee to a “moderate buy” rating in a research report on Thursday, August 14th. Macquarie set a $52.00 price objective on shares of Luckin Coffee in a report on Friday, September 5th. Finally, Wall Street Zen downgraded shares of Luckin Coffee from a “buy” rating to a “hold” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Luckin Coffee has an average rating of “Buy” and a consensus target price of $52.00.

Luckin Coffee Trading Down 5.2%

The business’s 50 day simple moving average is $39.27 and its 200 day simple moving average is $37.07. The firm has a market capitalization of $10.75 billion, a PE ratio of 21.54 and a beta of -0.29.

Luckin Coffee Company Profile

Luckin Coffee Inc offers retail services of freshly brewed drinks, and pre-made food and beverage items in the People's Republic of China. It offers hot and iced freshly brewed coffee, such as Americano, Latte, Cappuccino, Macchiato, Flat White, and Mocha, as well as specialty coffee based on market and seasonal trends; coconut milk latte products; tea drinks; pre-made beverages; and pre-made food items, such as pastries, sandwiches, and snacks.