Chagee (NASDAQ:CHA) Shares Down 5.3% – Time to Sell?

Chagee Holdings Ltd. (NASDAQ:CHA)’s share price fell 5.3% during trading on Tuesday . The company traded as low as $30.82 and last traded at $31.02. 433,570 shares were traded during mid-day trading, a decline of 73% from the average session volume of 1,613,603 shares. The stock had previously closed at $32.75.

Wall Street Analysts Forecast Growth

CHA has been the subject of several research analyst reports. Wall Street Zen cut Chagee from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley initiated coverage on Chagee in a report on Monday, June 2nd. They set an “overweight” rating and a $37.50 price target for the company. Citigroup initiated coverage on shares of Chagee in a research note on Wednesday, June 4th. They issued a “buy” rating and a $43.70 price objective on the stock. Finally, CICC Research started coverage on shares of Chagee in a research report on Friday. They set an “outperform” rating and a $41.50 target price on the stock.

Chagee Price Performance

Chagee (NASDAQ:CHA) last posted its quarterly earnings results on Friday, May 30th. The company reported $0.54 EPS for the quarter. The firm had revenue of $467.53 million during the quarter.

About Chagee

Our Mission With every cup of our tea, we aspire to foster a global connection of people and cultures. Our Vision To modernize the tea-drinking experience through technology and innovation. Our Core Values “Customer First” is the foundational philosophy of how we make decisions and run our business. “Caring for Partners” is the core value that defines how we interact with consumers, franchise partners, suppliers, and employees.