Chagee (NASDAQ:CHA) Trading Down 2.9% – Here’s What Happened

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

Analysts Set New Price Targets

A number of brokerages have recently commented on CHA. Macquarie began coverage on shares of Chagee in a research report on Friday, September 5th. They set a “neutral” rating and a $19.00 price objective for the company. Weiss Ratings restated a “sell (d)” rating on shares of Chagee in a research report on Wednesday, October 8th. JPMorgan Chase & Co. assumed coverage on shares of Chagee in a research report on Friday, November 14th. They issued an “underweight” rating and a $14.20 price target on the stock. Finally, Wall Street Zen lowered Chagee from a “buy” rating to a “hold” rating in a research note on Sunday, September 7th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.73.

Chagee Stock Down 6.1%

The firm’s 50-day moving average is $16.22. The stock has a market cap of $2.45 billion and a price-to-earnings ratio of 22.63.

Chagee (NASDAQ:CHA) last posted its earnings results 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 business had revenue of $465.11 million for the quarter, compared to the consensus estimate of $484.14 million.

Institutional Investors Weigh In On Chagee

A number of institutional investors have recently made changes to their positions in CHA. JPMorgan Chase & Co. acquired a new stake in Chagee during the 2nd quarter worth approximately $26,000. Quantbot Technologies LP bought a new position in Chagee during the 3rd quarter worth $34,000. Federated Hermes Inc. acquired a new stake in shares of Chagee during the second quarter worth $172,000. FACTORIAL MANAGEMENT Ltd bought a new stake in shares of Chagee in the second quarter valued at about $178,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of Chagee during the 2nd quarter worth approximately $204,000.

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.