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

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

Analysts Set New Price Targets

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

Chagee Stock Down 0.6%

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