Luckin Coffee (OTCMKTS:LKNCY) Stock Price Down 0.1% - Here's What Happened

Key Points

• Luckin Coffee's stock price decreased by 0.1% on Thursday, trading at around $38.22 after reaching a low of $37.75.
• The stock was recently downgraded from a "buy" to a "hold" rating by Wall Street Zen as of August 2nd.
• In its latest earnings report, Luckin Coffee posted an EPS of $0.64, significantly exceeding the consensus estimate of $0.07, but falling short on revenue expectations with $1.72 billion compared to $1.82 billion projected by analysts.

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY - Get Free Report)'s stock price dropped 0.1% during trading on Thursday . The stock traded as low as $37.75 and last traded at $38.22. Approximately 1,392,496 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 2,349,074 shares. The stock had previously closed at $38.26.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Luckin Coffee from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd.

Luckin Coffee Price Performance

The stock has a market capitalization of $10.84 billion, a price-to-earnings ratio of 21.72 and a beta of -0.24. The firm's fifty day moving average is $36.51 and its 200-day moving average is $33.00.

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

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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