Chagee (NASDAQ:CHA) Trading Down 5.3% - Should You Sell?

Shares of Chagee Holdings Ltd. (NASDAQ:CHA - Get Free Report) 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.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Chagee in a report on Wednesday, June 4th. They issued a "buy" rating and a $43.70 price objective for the company. CICC Research initiated coverage on shares of Chagee in a research report on Friday, June 6th. They set an "outperform" rating and a $41.50 target price for the company. Morgan Stanley assumed coverage on shares of Chagee in a research report on Monday, June 2nd. They set an "overweight" rating and a $37.50 target price for the company. Finally, Wall Street Zen downgraded shares of Chagee from a "buy" rating to a "hold" rating in a research report on Friday, June 6th.

Chagee Stock Performance

Chagee (NASDAQ:CHA - Get Free Report) last posted its quarterly earnings data on Friday, May 30th. The company reported $0.54 earnings per share (EPS) for the quarter. The firm had revenue of $467.53 million for 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.