Luckin Coffee (OTCMKTS:LKNCY) Sets New 52-Week Low – Here’s Why

Shares of Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) reached a new 52-week low on Wednesday . The stock traded as low as $27.22 and last traded at $27.53, with a volume of 1965572 shares. The stock had previously closed at $28.10.

Wall Street Analyst Weigh In

LKNCY has been the subject of several recent analyst reports. Jefferies Financial Group assumed coverage on Luckin Coffee in a report on Tuesday, June 9th. They issued a “buy” rating and a $43.60 price target for the company. The Goldman Sachs Group set a $49.00 price objective on Luckin Coffee and gave the company a “buy” rating in a report on Sunday, June 21st. Finally, Zacks Research upgraded Luckin Coffee from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $48.20.

Luckin Coffee Stock Down 2.0%

The firm has a market capitalization of $7.90 billion, a price-to-earnings ratio of 17.21 and a beta of -0.31. The business’s fifty day moving average is $31.85 and its 200 day moving average is $33.49.

About Luckin Coffee

Luckin Coffee Inc is a China-based coffeehouse chain that combines a digitally driven ordering platform with a network of physical outlets. The company’s mobile app and in-store kiosks enable customers to place orders for takeaway or delivery, while its proprietary supply chain supports rapid store expansion and consistent product quality. Luckin’s retail portfolio includes “grab-and-go” pickup points, delivery-only kitchens and full-service cafés designed to meet the varied needs of urban consumers.

Luckin’s menu features a broad range of espresso-based drinks, including lattes, Americanos and cold brews, complemented by tea-based beverages, fruit juices and a selection of light food items such as sandwiches and pastries.