Chagee (NASDAQ:CHA) Reaches New 12-Month Low – Time to Sell?

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $8.98 and last traded at $9.3210, with a volume of 2238015 shares trading hands. The stock had previously closed at $9.61.

Wall Street Analyst Weigh In

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

Chagee Trading Down 3.0%

The business has a 50-day moving average of $10.85 and a 200 day moving average of $13.37. The firm has a market capitalization of $1.71 billion and a PE ratio of 10.59.

Chagee (NASDAQ:CHA) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.07 earnings per share (EPS) for the quarter. The firm had revenue of $425.15 million for the quarter.

Institutional Investors Weigh In On Chagee

A number of institutional investors have recently added to or reduced their stakes in the company. Fosun International Ltd grew its position in Chagee by 19,295.0% in the 4th quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock worth $86,610,000 after purchasing an additional 7,408,691 shares in the last quarter. Schroder Investment Management Group bought a new position in shares of Chagee during the 3rd quarter worth approximately $46,150,000. UBS Group AG boosted its stake in shares of Chagee by 212.5% in the 3rd 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 purchased a new position in shares of Chagee in the 2nd quarter worth approximately $13,764,000. Finally, Jane Street Group LLC grew its holdings in shares of Chagee by 2,237.0% in the fourth quarter. Jane Street Group LLC now owns 439,640 shares of the company’s stock valued at $5,113,000 after acquiring an additional 420,828 shares in the last quarter.

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.