Luckin Coffee (NYSE:LK) Shares Gap Up to $40.34

Luckin Coffee Inc. (NYSE:LK)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $39.18, but opened at $40.34. Luckin Coffee shares last traded at $42.35, with a volume of 18,091,254 shares.

LK has been the subject of several research analyst reports. KeyCorp raised their price objective on Luckin Coffee from $32.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. They noted that the move was a valuation call. Zacks Investment Research lowered Luckin Coffee from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Morgan Stanley raised their target price on Luckin Coffee from $27.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of Luckin Coffee in a report on Wednesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $36.33.

The firm has a fifty day moving average of $39.82 and a 200 day moving average of $27.80.

Institutional investors have recently bought and sold shares of the stock. Financial Architects Inc acquired a new stake in Luckin Coffee during the fourth quarter worth about $25,000. Oakworth Capital Inc. grew its holdings in Luckin Coffee by 169.9% during the fourth quarter. Oakworth Capital Inc. now owns 761 shares of the company’s stock worth $30,000 after acquiring an additional 479 shares during the period. IFP Advisors Inc grew its holdings in Luckin Coffee by 238.8% during the fourth quarter. IFP Advisors Inc now owns 847 shares of the company’s stock worth $32,000 after acquiring an additional 597 shares during the period. Ladenburg Thalmann Financial Services Inc. acquired a new stake in Luckin Coffee during the second quarter worth about $27,000. Finally, Golden State Wealth Management LLC acquired a new stake in Luckin Coffee during the third quarter worth about $33,000.

About Luckin Coffee (NYSE:LK)

Luckin Coffee Inc engages in the retail sale of freshly brewed drinks, and pre-made food and beverage items in the People's Republic of China. It offers freshly brewed drinks, including freshly brewed coffee and non-coffee drinks; and food and beverage items, such as light meals. The company operates pick-up stores, relax stores, and delivery kitchens under the Luckin brand, as well as Luckin mobile app, Weixin mini-program, and other third-party platforms that cover the customer purchase process.

See Also: Stock Symbol

Receive News & Ratings for Luckin Coffee Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luckin Coffee and related companies with MarketBeat.com's FREE daily email newsletter.