Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) Short Interest Up 41.8% in October

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 3,190,000 shares, a growth of 41.8% from the September 30th total of 2,250,000 shares. Approximately 1.7% of the company’s stock are short sold. Based on an average daily trading volume, of 1,040,000 shares, the short-interest ratio is currently 3.1 days. Based on an average daily trading volume, of 1,040,000 shares, the short-interest ratio is currently 3.1 days. Approximately 1.7% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CHA shares. Macquarie started coverage on shares of Chagee in a research note on Friday, September 5th. They set a “neutral” rating and a $19.00 target price for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chagee in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Chagee from a “buy” rating to a “hold” rating in a research note on Sunday, September 7th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Chagee currently has an average rating of “Moderate Buy” and an average target price of $36.44.

Chagee Price Performance

Shares of CHA stock traded down $0.35 on Monday, hitting $15.30. The company’s stock had a trading volume of 436,249 shares, compared to its average volume of 1,185,944. The firm has a market cap of $2.81 billion and a PE ratio of 25.96. Chagee has a fifty-two week low of $15.24 and a fifty-two week high of $41.80. The firm’s fifty day moving average price is $17.39.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CHA. Marshall Wace LLP bought a new position in shares of Chagee during the 2nd quarter worth about $13,764,000. Barings LLC bought a new position in shares of Chagee during the 2nd quarter worth about $11,302,000. Allianz Asset Management GmbH bought a new position in shares of Chagee during the 2nd quarter worth about $11,034,000. Norges Bank bought a new position in shares of Chagee during the 2nd quarter worth about $5,050,000. Finally, MY.Alpha Management HK Advisors Ltd bought a new position in shares of Chagee during the 2nd quarter worth about $4,632,000.

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.