Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY) Stock Short Interest Report for October

Key Points

• Short interest surged 80.4% in October to 2.37 million shares, representing 0.9% of shares outstanding and 1.9 days to cover based on average trading volume.
• Analyst sentiment remains generally positive, with a consensus “Buy” rating and an average price target of $46.87, despite Zacks Research downgrading the stock to “Hold.”
• LKNCY shares recently fell 1.9% to $30.92, compared with a 52-week range of $27.22 to $40.80; the company’s market capitalization is approximately $8.87 billion.

Luckin Coffee Inc. Sponsored ADR (OTCMKTS:LKNCY - Get Free Report) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totaling 2,373,197 shares, an increase of 80.4% from the September 30th total of 1,315,513 shares. Based on an average daily volume of 1,229,978 shares, the short-interest ratio is presently 1.9 days. Currently, 0.9% of the shares of the stock are sold short.

Analysts Set New Price Targets

LKNCY has been the subject of several research analyst reports. BNP Paribas Exane raised Luckin Coffee to an "outperform" rating and set a $48.00 target price for the company in a research note on Tuesday, September 15th. Zacks Research lowered Luckin Coffee from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $46.87.

Luckin Coffee Trading Down 1.9%

LKNCY traded down $0.59 on Friday, hitting $30.92. 1,020,397 shares of the company's stock were exchanged, compared to its average volume of 904,562. Luckin Coffee has a fifty-two week low of $27.22 and a fifty-two week high of $40.80. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 0.44 and a beta of -0.34. The firm has a 50-day moving average price of $33.78 and a 200-day moving average price of $33.49.

Luckin Coffee Company Profile

Luckin Coffee Inc is a China-based coffeehouse operator that sells freshly prepared coffee, tea-based beverages, fruit drinks and light food. Its menu includes espresso-based drinks, cold beverages, snacks and seasonal products, with orders placed primarily through its mobile application and fulfilled through company-operated locations and delivery or pickup services.

Founded in 2017, Luckin Coffee built its business around a technology-focused, convenience-oriented model that emphasizes mobile ordering, digitally managed stores and delivery.

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