Renaissance Technologies LLC Acquires Shares of 269,700 Chagee Holdings Limited – Sponsored ADR $CHA

Renaissance Technologies LLC acquired a new position in shares of Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 269,700 shares of the company’s stock, valued at approximately $2,511,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fosun International Ltd raised its stake in shares of Chagee by 19,295.0% in the 4th quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock valued at $86,610,000 after purchasing an additional 7,408,691 shares in the last quarter. UBS Group AG increased its holdings in Chagee by 212.5% in the third quarter. UBS Group AG now owns 984,755 shares of the company’s stock valued at $16,298,000 after buying an additional 669,583 shares during the last quarter. Marshall Wace LLP bought a new stake in Chagee in the fourth quarter valued at about $5,407,000. Jane Street Group LLC raised its stake in 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 buying an additional 420,828 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in Chagee during the 4th quarter worth approximately $2,091,000.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CHA. Wall Street Zen lowered Chagee from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. Weiss Ratings cut Chagee from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, July 30th. Zacks Research upgraded Chagee from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Morgan Stanley reaffirmed an “overweight” rating and issued a $15.50 price objective on shares of Chagee in a report on Friday, May 29th. Finally, CLSA assumed coverage on shares of Chagee in a research note on Sunday, May 31st. They set a “hold” rating and a $10.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.68.

Chagee Price Performance

Shares of NASDAQ CHA opened at $10.18 on Monday. The firm’s 50-day moving average price is $11.46 and its two-hundred day moving average price is $10.93. Chagee Holdings Limited – Sponsored ADR has a 52-week low of $8.98 and a 52-week high of $23.90. The stock has a market capitalization of $1.87 billion, a P/E ratio of 14.54 and a beta of 1.57.

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.