Chagee (NASDAQ:CHA) Sees Large Volume Increase – Still a Buy?

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) shares saw strong trading volume on Monday . 857,837 shares were traded during mid-day trading, a decline of 24% from the previous session’s volume of 1,123,579 shares.The stock last traded at $11.9510 and had previously closed at $11.90.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CHA. Macquarie assumed coverage on Chagee in a research note on Friday, September 5th. They issued a “neutral” rating and a $19.00 price target for the company. Wall Street Zen upgraded Chagee from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chagee in a research report on Monday, December 22nd. Finally, JPMorgan Chase & Co. initiated coverage on shares of Chagee in a research note on Friday, November 14th. They issued an “underweight” rating and a $14.20 price target on the stock. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $32.73.

Chagee Price Performance

The stock has a market capitalization of $2.21 billion and a price-to-earnings ratio of 13.56. The stock has a 50 day moving average price of $14.57 and a 200-day moving average price of $19.30.

Chagee (NASDAQ:CHA) last announced its quarterly earnings data on Friday, November 28th. The company reported $0.29 earnings per share 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.

Chagee Dividend Announcement

The firm also recently declared a dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were given a dividend of $0.92 per share. The ex-dividend date was Monday, December 8th. Chagee’s payout ratio is presently 98.86%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. purchased a new stake in shares of Chagee in the second quarter valued at approximately $26,000. Quantbot Technologies LP acquired a new position in Chagee during the third quarter worth $34,000. Federated Hermes Inc. purchased a new stake in Chagee in the 2nd quarter valued at $172,000. FACTORIAL MANAGEMENT Ltd acquired a new stake in shares of Chagee in the 2nd quarter worth $178,000. Finally, Polymer Capital Management HK LTD purchased a new position in shares of Chagee during the 3rd quarter worth $182,000.

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.