Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA – Get Free Report) saw an uptick in trading volume on Wednesday . Approximately 836,892 shares were traded during mid-day trading, an increase of 31% from the previous session’s volume of 638,533 shares.The stock last traded at $12.1570 and had previously closed at $12.02.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on CHA shares. JPMorgan Chase & Co. raised Chagee from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $11.50 to $16.00 in a research report on Thursday, April 2nd. Wall Street Zen raised shares of Chagee from a “hold” rating to a “strong-buy” rating in a research note on Saturday, June 6th. Morgan Stanley reiterated an “overweight” rating and set a $15.50 price objective on shares of Chagee in a research report on Friday, May 29th. Zacks Research upgraded shares of Chagee from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, The Goldman Sachs Group assumed coverage on shares of Chagee in a research note on Sunday, June 21st. They set a “neutral” rating and a $13.60 price target for the company. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $14.68.
Get Our Latest Stock Report on Chagee
Chagee Trading Up 0.9%
Institutional Trading of Chagee
Several hedge funds and other institutional investors have recently made changes to their positions in CHA. JPMorgan Chase & Co. purchased a new stake in Chagee during the 2nd quarter worth approximately $26,000. Quantbot Technologies LP purchased a new position in shares of Chagee in the third quarter worth $34,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Chagee by 3,141.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,885 shares of the company’s stock worth $34,000 after buying an additional 2,796 shares during the period. Polymer Capital Management HK LTD lifted its stake in shares of Chagee by 39.1% during the fourth quarter. Polymer Capital Management HK LTD now owns 15,300 shares of the company’s stock worth $178,000 after buying an additional 4,300 shares during the period. Finally, Ovata Capital Management Ltd grew its holdings in shares of Chagee by 22.2% during the third quarter. Ovata Capital Management Ltd now owns 27,500 shares of the company’s stock valued at $455,000 after buying an additional 5,000 shares during the last quarter.
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. “Quality, Health, and Convenience” is the guiding principle of how we make our products.
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