Chagee (NASDAQ:CHA) Sees Large Volume Increase – Here’s What Happened

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) shares saw strong trading volume on Wednesday . 836,892 shares were traded during trading, an increase of 31% from the previous session’s volume of 638,533 shares.The stock last traded at $12.1570 and had previously closed at $12.02.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CHA. JPMorgan Chase & Co. raised shares of Chagee from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $11.50 to $16.00 in a research note on Thursday, April 2nd. CLSA initiated coverage on shares of Chagee in a research report on Sunday, May 31st. They set a “hold” rating and a $10.00 price objective for the company. Wall Street Zen raised shares of Chagee from a “hold” rating to a “strong-buy” rating in a report on Saturday, June 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chagee in a research report on Wednesday, June 24th. Finally, Morgan Stanley reissued an “overweight” rating and set a $15.50 target price on shares of Chagee in a research note on Friday, May 29th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chagee presently has a consensus rating of “Hold” and an average target price of $14.68.

Chagee Trading Down 8.0%

The company has a fifty day moving average price of $11.10 and a two-hundred day moving average price of $11.17. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 15.73 and a beta of 1.62.

Institutional Trading of Chagee

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new position in shares of Chagee during the 2nd quarter worth $26,000. Quantbot Technologies LP purchased a new stake in shares of Chagee in the third quarter valued at about $34,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Chagee by 3,141.6% in the fourth 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 period. Geode Capital Management LLC acquired a new stake in Chagee during the fourth quarter worth about $147,000. Finally, Federated Hermes Inc. purchased a new position in Chagee during the second quarter worth about $172,000.

About Chagee

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.