Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA – Get Free Report)’s stock price dropped 3.8% during trading on Tuesday . The stock traded as low as $11.81 and last traded at $11.7610. Approximately 194,926 shares were traded during mid-day trading, a decline of 72% from the average session volume of 696,744 shares. The stock had previously closed at $12.22.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the company. Wall Street Zen raised Chagee from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 5th. Morgan Stanley restated an “overweight” rating and set a $15.50 target price on shares of Chagee in a research note on Friday, May 29th. The Goldman Sachs Group initiated coverage on Chagee in a report on Sunday, June 21st. They issued a “neutral” rating and a $13.60 price target for the company. Zacks Research upgraded shares of Chagee from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Finally, CLSA started coverage on shares of Chagee in a research report on Sunday, May 31st. They set a “hold” rating and a $10.00 price objective for the company. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chagee presently has an average rating of “Hold” and an average target price of $13.82.
View Our Latest Analysis on CHA
Chagee Stock Down 2.9%
Chagee (NASDAQ:CHA – Get Free Report) last released its quarterly earnings results on Friday, August 28th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.33 by $0.04. The firm had revenue of $502.59 million during the quarter. Chagee had a net margin of 10.23% and a return on equity of 16.43%. On average, equities analysts anticipate that Chagee Holdings Limited – Sponsored ADR will post 1.31 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Chagee
A number of hedge funds and other institutional investors have recently made changes to their positions in CHA. Caitong International Asset Management Co. Ltd lifted its position in Chagee by 5,007.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,546 shares of the company’s stock worth $53,000 after acquiring an additional 4,457 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Chagee during the first quarter worth $427,000. Bank of America Corp DE lifted its holdings in shares of Chagee by 5,266.8% during the first quarter. Bank of America Corp DE now owns 50,502 shares of the company’s stock worth $470,000 after purchasing an additional 49,561 shares during the period. Virtu Financial LLC grew its position in Chagee by 355.9% in the 4th quarter. Virtu Financial LLC now owns 54,304 shares of the company’s stock valued at $632,000 after buying an additional 42,393 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in Chagee in the 1st quarter valued at $1,211,000.
Chagee Company Profile
Chagee Holding Limited operates the CHAGEE beverage brand, which specializes in freshly prepared tea drinks inspired by traditional Chinese tea culture. Its menu includes tea-based milk beverages, fruit tea and other drinks made with tea leaves, milk and related ingredients. The company positions CHAGEE as a premium, modern tea brand serving customers through branded retail locations.
Founded in 2017, Chagee has expanded its store network primarily through mainland China, while also serving customers in Southeast Asia.
Read More
- Five stocks we like better than Chagee
- Paramount Skydance Clears a Major Warner Bros. Discovery Hurdle—Here’s What Comes Next
- Can Apple Overtake NVIDIA as the World’s Most Valuable Company?
- Meta Platforms’ Petal Cable Puts Corning at the Center of AI’s Bandwidth Boom
- Tesla’s Delivery Warning Barely Moved the Stock—Here’s What Investors Care About
Receive News & Ratings for Chagee Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chagee and related companies with MarketBeat.com's FREE daily email newsletter.
