Luckin Coffee (OTCMKTS:LKNCY) Reaches New 52-Week High After Better-Than-Expected Earnings

Key Points

• Luckin Coffee's stock reached a 52-week high of $40.00 during trading, closing at $38.73 with a market capitalization of $10.73 billion.
• For the last quarter, Luckin reported an earnings per share (EPS) of $0.64, with a net margin of 9.58% and a return on equity of 36.55%.
• The company's moving averages show a fifty-day average of $35.71 and a two-hundred-day average of $32.45, indicating positive momentum.

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY - Get Free Report) shares hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $40.00 and last traded at $38.73, with a volume of 1458374 shares. The stock had previously closed at $38.60.

The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.57. The business had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.82 billion. Luckin Coffee had a return on equity of 36.80% and a net margin of 9.59%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Luckin Coffee from a "buy" rating to a "hold" rating in a research report on Saturday.

Luckin Coffee Stock Performance

The business has a 50 day simple moving average of $36.05 and a 200-day simple moving average of $32.70. The stock has a market capitalization of $10.53 billion, a P/E ratio of 21.09 and a beta of -0.24.

About Luckin Coffee

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.