Chagee (NASDAQ:CHA) Shares Gap Down - Time to Sell?

Chagee Holdings Ltd. (NASDAQ:CHA - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $35.08, but opened at $33.00. Chagee shares last traded at $33.24, with a volume of 1,020,263 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Morgan Stanley assumed coverage on Chagee in a research report on Monday. They issued an "overweight" rating and a $37.50 price objective for the company. CICC Research assumed coverage on Chagee in a research report on Friday. They issued an "outperform" rating and a $41.50 price objective for the company. Wall Street Zen upgraded Chagee from a "hold" rating to a "buy" rating in a research report on Wednesday, May 28th. Finally, Citigroup assumed coverage on Chagee in a research report on Wednesday. They issued a "buy" rating and a $43.70 price objective for the company.

Chagee Price Performance

Chagee (NASDAQ:CHA - Get Free Report) last released its earnings results 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.