Chagee (NASDAQ:CHA) Shares Gap Down – Should You Sell?

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) shares gapped down before the market opened on Friday . The stock had previously closed at $9.97, but opened at $9.52. Chagee shares last traded at $9.6610, with a volume of 236,876 shares.

Analyst Ratings Changes

CHA has been the subject of a number of research reports. Zacks Research cut shares of Chagee from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 31st. JPMorgan Chase & Co. upgraded shares of Chagee from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $11.50 to $16.00 in a report on Thursday, April 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Chagee in a report on Friday, March 27th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $30.31.

Chagee Price Performance

The stock has a market capitalization of $1.75 billion and a price-to-earnings ratio of 10.60. The business’s fifty day moving average price is $10.39 and its 200-day moving average price is $11.81.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CHA. Fosun International Ltd grew its holdings in shares of Chagee by 19,295.0% during the fourth quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock valued at $86,610,000 after buying an additional 7,408,691 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of Chagee during the third quarter valued at about $46,150,000. UBS Group AG lifted its position in shares of Chagee by 212.5% during the third quarter. UBS Group AG now owns 984,755 shares of the company’s stock valued at $16,298,000 after purchasing an additional 669,583 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Chagee during the fourth quarter valued at about $5,407,000. Finally, Jane Street Group LLC lifted its position in shares of Chagee by 2,237.0% during the fourth quarter. Jane Street Group LLC now owns 439,640 shares of the company’s stock valued at $5,113,000 after purchasing 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.