Chagee (NASDAQ:CHA) Trading Down 5.3% – What’s Next?

Chagee Holdings Ltd. (NASDAQ:CHA) traded down 5.3% on Tuesday . The company traded as low as $30.82 and last traded at $31.02. 433,570 shares changed hands during trading, a decline of 73% from the average session volume of 1,613,603 shares. The stock had previously closed at $32.75.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup assumed coverage on Chagee in a research note on Wednesday, June 4th. They issued a “buy” rating and a $43.70 price objective on the stock. Morgan Stanley began coverage on Chagee in a research report on Monday, June 2nd. They issued an “overweight” rating and a $37.50 price target on the stock. Wall Street Zen cut Chagee from a “buy” rating to a “hold” rating in a report on Friday. Finally, CICC Research initiated coverage on shares of Chagee in a research note on Friday. They issued an “outperform” rating and a $41.50 target price on the stock.

Chagee Trading Down 6.6%

Chagee (NASDAQ:CHA) last posted its quarterly earnings data 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.

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.