Luckin Coffee (OTCMKTS:LKNCY) Sets New 52-Week High - What's Next?

Key Points

• Luckin Coffee Inc. shares reached a new 52-week high of $40.00, closing at $39.97 with a trading volume of over 2.25 million shares.
• The company recently reported $0.64 earnings per share, significantly exceeding analysts' expectations of $0.07, although revenue fell short of the consensus estimate.
• Amid recent broker ratings, Dbs Bank upgraded Luckin Coffee to a "moderate buy," while a consensus rating remains at "Buy" with a target price of $52.00.

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY - Get Free Report) shares reached a new 52-week high during trading on Friday . The company traded as high as $40.00 and last traded at $39.97, with a volume of 2252548 shares trading hands. The stock had previously closed at $39.48.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LKNCY. Dbs Bank raised Luckin Coffee to a "moderate buy" rating in a research note on Thursday, August 14th. Wall Street Zen downgraded Luckin Coffee from a "buy" rating to a "hold" rating in a research report on Friday, August 8th. Finally, Macquarie set a $52.00 price target on shares of Luckin Coffee in a report on Friday, September 5th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $52.00.

Luckin Coffee Trading Up 3.6%

The firm has a 50-day simple moving average of $37.84 and a 200-day simple moving average of $35.32. The firm has a market cap of $11.60 billion, a P/E ratio of 20.56 and a beta of -0.41.

Luckin Coffee (OTCMKTS:LKNCY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.57. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.82 billion. Luckin Coffee had a return on equity of 36.80% and a net margin of 9.59%.

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.

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