Chagee (NASDAQ:CHA) Trading Down 2.9% – What’s Next?

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA)’s stock price was down 2.9% during mid-day trading on Thursday . The company traded as low as $13.72 and last traded at $13.8050. Approximately 233,299 shares changed hands during trading, a decline of 79% from the average daily volume of 1,137,678 shares. The stock had previously closed at $14.22.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CHA shares. Wall Street Zen lowered Chagee from a “buy” rating to a “hold” rating in a research note on Sunday, September 7th. Macquarie initiated coverage on Chagee in a research report on Friday, September 5th. They set a “neutral” rating and a $19.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on Chagee in a report on Friday, November 14th. They set an “underweight” rating and a $14.20 target price for the company. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Chagee in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $32.73.

Chagee Stock Up 4.5%

The stock has a 50 day moving average price of $16.08. The stock has a market cap of $2.51 billion and a PE ratio of 23.15.

Chagee (NASDAQ:CHA) last announced its quarterly earnings data on Friday, August 29th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The company had revenue of $465.11 million for the quarter, compared to analyst estimates of $484.14 million.

Hedge Funds Weigh In On Chagee

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHA. LBP AM SA acquired a new position in shares of Chagee during the second quarter worth $1,619,000. Matthews International Capital Management LLC bought a new stake in Chagee during the 2nd quarter worth $1,401,000. Franchise Capital Ltd acquired a new position in Chagee in the 2nd quarter worth about $4,111,000. Allianz Asset Management GmbH bought a new position in Chagee in the second quarter valued at about $11,034,000. Finally, FACTORIAL MANAGEMENT Ltd acquired a new stake in shares of Chagee during the second quarter valued at about $178,000.

About Chagee

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.