Hansen shares rise after analyst lauds sales rise

Analyst Judy E. Hong said in a note to investors that according to data received from chain convenience stores, total energy category sales rose 13 percent during the month.

The rise is slightly lower than May's 15 percent increase, but Hong said the fact that June sales still climbed by double-digits shows "a solid trend considering a generally weak convenience store trend for all beverage categories in recent months."

"We are encouraged that energy drink category growth is holding up relatively well versus other beverage categories," Hong said.

Hong said other beverages are being hurt by fewer customers at convenience stores and gas stations. High prices for gas have led some consumers to buy fuel at big box stores or other discount locations to try to cut back on shopping trips and possible save a few cents per gallon.

She said Monster, Hansen's energy drink brand, has also continued to gain market share in the category.

Hansen shares rose $1.84, or 7.3 percent, to $27.09 in morning trading.