Short Interest in Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) Declines By 19.4%

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) saw a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 1,379,091 shares, a decline of 19.4% from the January 29th total of 1,711,872 shares. Based on an average trading volume of 732,726 shares, the days-to-cover ratio is currently 1.9 days. Approximately 0.8% of the shares of the company are short sold. Approximately 0.8% of the shares of the company are short sold. Based on an average trading volume of 732,726 shares, the days-to-cover ratio is currently 1.9 days.

Chagee Price Performance

Shares of CHA stock traded down $0.52 during trading on Tuesday, hitting $10.53. 296,355 shares of the stock traded hands, compared to its average volume of 667,183. Chagee has a 52-week low of $9.95 and a 52-week high of $41.80. The firm has a market capitalization of $1.93 billion and a P/E ratio of 11.96. The firm’s fifty day moving average price is $11.60 and its 200-day moving average price is $14.78.

Chagee (NASDAQ:CHA) last posted its earnings results on Friday, November 28th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The business had revenue of $450.67 million during the quarter, compared to the consensus estimate of $458.31 million.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. purchased a new stake in Chagee during the 2nd quarter worth approximately $26,000. Quantbot Technologies LP acquired a new stake in shares of Chagee in the third quarter valued at $34,000. Caitong International Asset Management Co. Ltd grew its stake in Chagee by 3,141.6% during 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 in the last quarter. Federated Hermes Inc. purchased a new stake in Chagee during the 2nd quarter worth about $172,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in Chagee in the 2nd quarter valued at about $204,000.

Analyst Upgrades and Downgrades

CHA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded Chagee from an “underweight” rating to a “neutral” rating and decreased their target price for the company from $12.40 to $11.50 in a research report on Friday, February 13th. Zacks Research upgraded shares of Chagee from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chagee in a research note on Monday, December 29th. Wall Street Zen raised shares of Chagee from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. Finally, Jefferies Financial Group started coverage on shares of Chagee in a report on Wednesday, January 7th. They issued a “hold” rating and a $14.00 price objective for the company. Four 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $29.67.

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.