Symons Capital Management Inc. grew its holdings in Luckin Coffee Inc. (NYSE:LK) by 26.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 380,426 shares of the company’s stock after purchasing an additional 79,672 shares during the quarter. Luckin Coffee comprises about 3.3% of Symons Capital Management Inc.’s portfolio, making the stock its 9th biggest position. Symons Capital Management Inc. owned approximately 0.16% of Luckin Coffee worth $7,228,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. acquired a new position in shares of Luckin Coffee in the 2nd quarter valued at about $27,000. Golden State Wealth Management LLC acquired a new position in shares of Luckin Coffee in the 3rd quarter valued at about $33,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Luckin Coffee in the 2nd quarter valued at about $38,000. Bank of Montreal Can acquired a new position in shares of Luckin Coffee in the 2nd quarter valued at about $97,000. Finally, Royal Bank of Canada acquired a new position in shares of Luckin Coffee in the 2nd quarter valued at about $146,000.
A number of research analysts have recently issued reports on LK shares. KeyCorp boosted 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. Zacks Investment Research raised Luckin Coffee from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $25.33.
Luckin Coffee stock traded down $0.17 during midday trading on Friday, reaching $18.56. The stock had a trading volume of 2,373,384 shares, compared to its average volume of 3,845,720. Luckin Coffee Inc. has a 12 month low of $13.71 and a 12 month high of $27.12. The business has a fifty day moving average price of $19.64.
Luckin Coffee (NYSE:LK) last issued its earnings results on Wednesday, August 14th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.04). The company had revenue of $132.40 million during the quarter, compared to analyst estimates of $133.15 million. Luckin Coffee’s revenue for the quarter was down 85.4% compared to the same quarter last year.
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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