Short Interest in Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) Decreases By 28.1%

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) was the target of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 1,042,317 shares, a drop of 28.1% from the February 26th total of 1,449,341 shares. Based on an average daily trading volume, of 445,148 shares, the short-interest ratio is presently 2.3 days. Approximately 0.6% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CHA shares. Zacks Research raised Chagee from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. raised shares of Chagee from an “underweight” rating to a “neutral” rating and lowered their price objective for the company from $12.40 to $11.50 in a research report on Friday, February 13th. Jefferies Financial Group began coverage on shares of Chagee in a research note on Wednesday, January 7th. They issued a “hold” rating and a $14.00 price objective on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Chagee in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Chagee from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Chagee currently has a consensus rating of “Hold” and a consensus target price of $29.67.

Chagee Trading Down 3.5%

Chagee stock opened at $9.53 on Friday. Chagee has a 1-year low of $9.51 and a 1-year high of $41.80. The firm’s fifty day simple moving average is $10.96 and its 200-day simple moving average is $13.50. The company has a market capitalization of $1.75 billion and a P/E ratio of 10.83.

Institutional Trading of Chagee

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new stake in shares of Chagee during the 2nd quarter worth about $26,000. Quantbot Technologies LP bought a new position in shares of Chagee in the 3rd quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd lifted its holdings in Chagee by 3,141.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,885 shares of the company’s stock worth $34,000 after purchasing an additional 2,796 shares during the last quarter. Geode Capital Management LLC acquired a new stake in Chagee in the 4th quarter worth approximately $147,000. Finally, Federated Hermes Inc. bought a new stake in Chagee during the second quarter worth approximately $172,000.

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. “Quality, Health, and Convenience” is the guiding principle of how we make our products.