Luckin Coffee (OTCMKTS:LKNCY) Stock Price Down 6.6% – Here’s Why

Luckin Coffee Inc. (OTCMKTS:LKNCY) shares traded down 6.6% on Wednesday . The stock traded as low as $21.44 and last traded at $21.85. 2,761,008 shares were traded during trading, an increase of 16% from the average session volume of 2,377,853 shares. The stock had previously closed at $23.39.

Luckin Coffee Stock Performance

The firm has a market cap of $6.17 billion, a PE ratio of 20.23 and a beta of -0.51. The stock has a 50 day simple moving average of $23.70 and a two-hundred day simple moving average of $21.55.

Luckin Coffee (OTCMKTS:LKNCY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.20. The company had revenue of $1.45 billion during the quarter. Luckin Coffee had a return on equity of 30.29% and a net margin of 7.51%.

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.