Chagee (NASDAQ:CHA) Trading 4.1% Higher - Here's Why

Chagee Holdings Limited - Sponsored ADR (NASDAQ:CHA - Get Free Report) traded up 4.1% on Monday . The company traded as high as $28.88 and last traded at $28.41. 435,866 shares changed hands during trading, a decline of 70% from the average session volume of 1,444,425 shares. The stock had previously closed at $27.30.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CHA. CICC Research began coverage on Chagee in a report on Friday, June 6th. They issued an "outperform" rating and a $41.50 price target on the stock. Citigroup started coverage on Chagee in a research note on Wednesday, June 4th. They set a "buy" rating and a $43.70 target price on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Chagee in a research note on Thursday, June 19th. They issued a "buy" rating and a $40.50 price objective for the company. Morgan Stanley assumed coverage on Chagee in a report on Monday, June 2nd. They issued an "overweight" rating and a $37.50 price objective for the company. Finally, Wall Street Zen cut Chagee from a "buy" rating to a "hold" rating in a report on Friday, June 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $40.80.

Chagee Price Performance

Chagee (NASDAQ:CHA - Get Free Report) last posted 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 during 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.