Chagee (NASDAQ:CHA) Sets New 52-Week Low – Should You Sell?

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $9.91 and last traded at $9.9550, with a volume of 210206 shares changing hands. The stock had previously closed at $10.12.

Analysts Set New Price Targets

CHA has been the topic of a number of analyst reports. Jefferies Financial Group assumed coverage on Chagee in a report on Wednesday, January 7th. They issued a “hold” rating and a $14.00 price target on the stock. JPMorgan Chase & Co. raised Chagee from an “underweight” rating to a “neutral” rating and dropped their price objective for the company from $12.40 to $11.50 in a research report on Friday, February 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chagee in a report on Monday, December 29th. Wall Street Zen raised shares of Chagee from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Finally, Zacks Research upgraded shares of Chagee from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $29.67.

Chagee Stock Down 3.5%

The firm has a market capitalization of $1.75 billion and a price-to-earnings ratio of 10.83. The business has a 50-day moving average price of $10.96 and a 200-day moving average price of $13.52.

Institutional Investors Weigh In On Chagee

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new stake in Chagee in the second quarter worth about $26,000. Quantbot Technologies LP acquired a new position in shares of Chagee during the third quarter valued at about $34,000. Caitong International Asset Management Co. Ltd raised its position in shares of Chagee by 3,141.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,885 shares of the company’s stock valued at $34,000 after purchasing an additional 2,796 shares during the last quarter. Geode Capital Management LLC acquired a new stake in Chagee in the 4th quarter worth approximately $147,000. Finally, Federated Hermes Inc. acquired a new stake in Chagee in the 2nd quarter worth approximately $172,000.

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. “Quality, Health, and Convenience” is the guiding principle of how we make our products.