Chagee (NASDAQ:CHA) Shares Gap Down - What's Next?

Chagee Holdings Ltd. (NASDAQ:CHA - Get Free Report) shares gapped down before the market opened 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 traded.

Analysts Set New Price Targets

CHA has been the subject of a number of research analyst reports. Citigroup started coverage on Chagee in a report on Wednesday. They set a "buy" rating and a $43.70 price target for the company. CICC Research initiated 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 lowered Chagee from a "buy" rating to a "hold" rating in a report on Friday. Finally, Morgan Stanley began coverage on Chagee in a research note on Monday, June 2nd. They issued an "overweight" rating and a $37.50 price target on the stock.

Chagee Trading Up 2.9%

Chagee (NASDAQ:CHA - Get Free Report) last announced its quarterly earnings results on Friday, May 30th. The company reported $0.54 EPS 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.