Luckin Coffee (OTCMKTS:LKNCY) Shares Down 0.9% - Here's What Happened

Luckin Coffee Inc. (OTCMKTS:LKNCY - Get Free Report)'s share price was down 0.9% during mid-day trading on Friday . The stock traded as low as $34.40 and last traded at $34.70. Approximately 1,448,938 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 2,429,047 shares. The stock had previously closed at $35.02.

Luckin Coffee Trading Up 3.6%

The company has a market capitalization of $10.20 billion, a PE ratio of 27.04 and a beta of -0.27. The firm's 50-day simple moving average is $32.16 and its 200-day simple moving average is $29.23.

Luckin Coffee (OTCMKTS:LKNCY - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.10. Luckin Coffee had a return on equity of 35.32% and a net margin of 8.54%. The business had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.15 billion.

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.