Stevens First Principles Investment Advisors Invests $2.65 Million in Luckin Coffee Inc. (NYSE:LK)

Stevens First Principles Investment Advisors bought a new position in Luckin Coffee Inc. (NYSE:LK) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 135,835 shares of the company’s stock, valued at approximately $2,647,000. Luckin Coffee accounts for 1.5% of Stevens First Principles Investment Advisors’ portfolio, making the stock its 24th largest position. Stevens First Principles Investment Advisors owned approximately 0.06% of Luckin Coffee at the end of the most recent reporting period.

Separately, Jackson Wealth Management LLC acquired a new stake in shares of Luckin Coffee in the 2nd quarter worth $3,918,000.

Shares of NYSE LK traded down $0.14 during midday trading on Thursday, hitting $24.15. The company had a trading volume of 5,767,429 shares, compared to its average volume of 4,846,419. Luckin Coffee Inc. has a twelve month low of $13.71 and a twelve month high of $27.12. The firm has a 50-day simple moving average of $20.29.

Several research firms have recently commented on LK. Needham & Company LLC began coverage on shares of Luckin Coffee in a research note on Tuesday, June 11th. They issued a “buy” rating and a $27.00 target price for the company. KeyCorp started coverage on shares of Luckin Coffee in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $22.00 price objective for the company. Credit Suisse Group started coverage on shares of Luckin Coffee in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $24.00 price objective for the company. Zephirin Group started coverage on shares of Luckin Coffee in a research note on Friday, May 17th. They issued a “buy” rating and a $32.00 price objective for the company. Finally, Morgan Stanley started coverage on shares of Luckin Coffee in a research note on Tuesday, June 11th. They issued an “equal weight” rating and a $21.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $25.20.

Luckin Coffee Profile

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.

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