Zimmer Partners LP Makes New $2.50 Million Investment in Luckin Coffee Inc. (NYSE:LK)

Zimmer Partners LP purchased a new position in shares of Luckin Coffee Inc. (NYSE:LK) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 128,000 shares of the company’s stock, valued at approximately $2,495,000. Zimmer Partners LP owned 0.05% of Luckin Coffee as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new position in Luckin Coffee during the 2nd quarter worth $38,000. Bank of Montreal Can acquired a new position in Luckin Coffee during the 2nd quarter worth $97,000. Maven Securities LTD acquired a new position in Luckin Coffee during the 2nd quarter worth $194,000. BNP Paribas Arbitrage SA acquired a new position in Luckin Coffee during the 2nd quarter worth $219,000. Finally, Victory Capital Management Inc. acquired a new position in Luckin Coffee during the 2nd quarter worth $240,000.

Shares of LK traded down $1.29 during midday trading on Tuesday, reaching $20.22. The stock had a trading volume of 1,562,989 shares, compared to its average volume of 4,426,947. Luckin Coffee Inc. has a 52 week low of $13.71 and a 52 week high of $27.12. The firm has a 50 day moving average of $21.34.



Luckin Coffee (NYSE:LK) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.48) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.04). The firm had revenue of $132.40 million during the quarter, compared to the consensus estimate of $133.15 million. The business’s quarterly revenue was down 85.4% on a year-over-year basis.

A number of research analysts have issued reports on LK shares. Needham & Company LLC started coverage on Luckin Coffee in a research report on Tuesday, June 11th. They set a “buy” rating and a $27.00 price target for the company. Zacks Investment Research lowered Luckin Coffee from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Credit Suisse Group started coverage on Luckin Coffee in a research report on Tuesday, June 11th. They set an “outperform” rating and a $24.00 price target for the company. KeyCorp boosted their price target on Luckin Coffee from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Finally, Morgan Stanley started coverage on Luckin Coffee in a research report on Tuesday, June 11th. They set an “equal weight” rating and a $21.00 price target for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Luckin Coffee has a consensus rating of “Buy” and a consensus price target of $25.00.

About Luckin Coffee

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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Institutional Ownership by Quarter for Luckin Coffee (NYSE:LK)

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