Chagee (NASDAQ:CHA) Reaches New 12-Month Low – Here’s What Happened

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $9.91 and last traded at $9.9550, with a volume of 210206 shares. The stock had previously closed at $10.12.

Analyst Ratings Changes

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

Chagee Stock Down 1.9%

The firm has a market capitalization of $1.82 billion and a price-to-earnings ratio of 11.28. The company’s 50 day moving average is $11.06 and its 200 day moving average is $13.60.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. bought a new position in shares of Chagee during the second quarter worth approximately $26,000. Quantbot Technologies LP acquired a new stake in Chagee during the third quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd increased 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 acquiring an additional 2,796 shares during the period. Geode Capital Management LLC acquired a new position in Chagee in the 4th quarter valued at $147,000. Finally, Federated Hermes Inc. bought a new position in shares of Chagee in the second quarter worth $172,000.

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.