Chagee Holdings Limited – Sponsored ADR’s Lock-Up Period Will Expire Tomorrow (NASDAQ:CHA)

Chagee’s (NASDAQ:CHA) lock-up period will expire on Tuesday, October 14th. Chagee had issued 14,683,991 shares in its initial public offering on April 17th. The total size of the offering was $411,151,748 based on an initial share price of $28.00. After the end of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CHA. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Chagee in a research report on Thursday, June 19th. They set a “buy” rating and a $40.50 price objective for the company. Wall Street Zen lowered shares of Chagee from a “buy” rating to a “hold” rating in a report on Sunday, September 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chagee in a report on Wednesday, October 8th. Finally, Macquarie started coverage on shares of Chagee in a research report on Friday, September 5th. They set a “neutral” rating and a $19.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.44.

Chagee Trading Down 2.5%

Shares of Chagee stock opened at $15.86 on Monday. Chagee has a 12-month low of $15.79 and a 12-month high of $41.80. The stock has a 50-day moving average price of $19.05.

Chagee (NASDAQ:CHA) last announced its earnings results on Friday, August 29th. The company reported $0.05 earnings per share 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.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. purchased a new position in shares of Chagee during the second quarter worth approximately $26,000. Federated Hermes Inc. bought a new stake in Chagee in the second quarter valued at $172,000. FACTORIAL MANAGEMENT Ltd bought a new stake in shares of Chagee during the 2nd quarter valued at $178,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Chagee during the 2nd quarter valued at $204,000. Finally, Geode Capital Management LLC purchased a new position in shares of Chagee in the 2nd quarter worth about $232,000.

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.