Chagee (NASDAQ:CHA) Shares Down 2.9% – What’s Next?

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA)’s stock price was down 2.9% on Thursday . The stock traded as low as $13.72 and last traded at $13.8050. Approximately 233,299 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 1,137,678 shares. The stock had previously closed at $14.22.

Analyst Ratings Changes

Several research analysts have commented on CHA shares. Macquarie started coverage on 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 reiterated a “sell (d)” rating on shares of Chagee in a research report on Wednesday, October 8th. JPMorgan Chase & Co. initiated coverage on shares of Chagee in a research report on Friday, November 14th. They issued an “underweight” rating and a $14.20 target price on the stock. Finally, Wall Street Zen downgraded shares of Chagee from a “buy” rating to a “hold” rating in a report on Sunday, September 7th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.73.

Chagee Stock Down 6.1%

The business has a fifty day moving average of $16.22. The firm has a market capitalization of $2.45 billion and a PE ratio of 22.63.

Chagee (NASDAQ:CHA) last issued its quarterly earnings data on Friday, August 29th. The company reported $0.05 earnings per share 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 the consensus estimate of $484.14 million.

Hedge Funds Weigh In On Chagee

A number of hedge funds and other institutional investors have recently made changes to their positions in CHA. Schroder Investment Management Group bought a new position in Chagee during the 3rd quarter worth approximately $46,150,000. UBS Group AG raised its stake in Chagee by 212.5% during the third quarter. UBS Group AG now owns 984,755 shares of the company’s stock worth $16,298,000 after buying an additional 669,583 shares during the last quarter. Marshall Wace LLP acquired a new position in Chagee in the second quarter valued at $13,764,000. Barings LLC bought a new stake in Chagee during the second quarter valued at $11,302,000. Finally, Allianz Asset Management GmbH acquired a new stake in Chagee during the 2nd quarter worth about $11,034,000.

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.