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

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. CICC Research assumed coverage on shares of Chagee in a research report on Friday, June 6th. They set an “outperform” rating and a $41.50 price target for the company. Wall Street Zen downgraded shares of Chagee from a “buy” rating to a “hold” rating in a research report on Friday, June 6th. Morgan Stanley started coverage on Chagee in a research note on Monday, June 2nd. They set an “overweight” rating and a $37.50 price target on the stock. Finally, Citigroup began coverage on Chagee in a report on Wednesday, June 4th. They set a “buy” rating and a $43.70 target price for the company.

Chagee Stock Performance

Chagee (NASDAQ:CHA) last posted its quarterly earnings data on Friday, May 30th. The company reported $0.54 EPS for the quarter. The business 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.