Chagee (NASDAQ:CHA) Reaches New 1-Year Low – Here’s Why

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA)’s share price hit a new 52-week low on Monday . The stock traded as low as $15.40 and last traded at $15.34, with a volume of 113361 shares. The stock had previously closed at $15.65.

Wall Street Analyst Weigh In

CHA has been the subject of several analyst reports. Macquarie initiated coverage on shares of Chagee in a research note on Friday, September 5th. They issued a “neutral” rating and a $19.00 price objective for the company. Wall Street Zen cut shares of Chagee from a “buy” rating to a “hold” rating in a research note on Sunday, September 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Chagee in a research note on Wednesday, October 8th. Four equities 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.44.

Chagee Stock Down 1.9%

The stock has a market capitalization of $2.82 billion and a PE ratio of 26.02. The stock’s fifty day moving average price is $17.39.

Chagee (NASDAQ:CHA) last released 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 business had revenue of $465.11 million for the quarter, compared to analysts’ expectations of $484.14 million.

Hedge Funds Weigh In On Chagee

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. bought a new position in Chagee in the 2nd quarter valued at about $26,000. Federated Hermes Inc. bought a new position in Chagee in the 2nd quarter valued at about $172,000. FACTORIAL MANAGEMENT Ltd bought a new position in Chagee in the 2nd quarter valued at about $178,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Chagee during the 2nd quarter valued at approximately $204,000. Finally, Geode Capital Management LLC bought a new stake in shares of Chagee during the 2nd quarter valued at approximately $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.