Chagee (NASDAQ:CHA) Trading Down 4.9% – What’s Next?

Chagee Holdings Ltd. (NASDAQ:CHA) shares were down 4.9% on Tuesday . The stock traded as low as $28.12 and last traded at $28.13. Approximately 513,016 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 1,538,012 shares. The stock had previously closed at $29.59.

Analyst Ratings Changes

CHA has been the subject of several analyst reports. CICC Research began coverage on Chagee in a research note on Friday, June 6th. They issued an “outperform” rating and a $41.50 target price for the company. Citigroup assumed coverage on Chagee in a research note on Wednesday, June 4th. They set a “buy” rating and a $43.70 price objective on the stock. Morgan Stanley started coverage on shares of Chagee in a report on Monday, June 2nd. They issued an “overweight” rating and a $37.50 price objective on the stock. Finally, Wall Street Zen lowered Chagee from a “buy” rating to a “hold” rating in a research report on Friday, June 6th.

Chagee Price Performance

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

Chagee Company Profile

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.