Chagee (NASDAQ:CHA) Sets New 12-Month Low - Here's What Happened

Key Points

• Chagee Holdings Limited's stock hit a new 52-week low, trading as low as $23.00 before closing at $23.11.
• Multiple analysts have issued positive ratings on Chagee, with price targets averaging around $40.80 after recent coverage from firms including Citigroup and Morgan Stanley.
• Institutional investors have shown interest, with notable purchases made by firms like Allianz Asset Management, which acquired a position worth approximately $11 million in the second quarter.

Shares of Chagee Holdings Limited - Sponsored ADR (NASDAQ:CHA - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $23.00 and last traded at $23.11, with a volume of 598177 shares changing hands. The stock had previously closed at $23.19.

Wall Street Analyst Weigh In

Several analysts recently commented on CHA shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Chagee in a research report on Thursday, June 19th. They set a "buy" rating and a $40.50 price target on the stock. Citigroup started coverage on shares of Chagee in a research report on Wednesday, June 4th. They set a "buy" rating and a $43.70 price target on the stock. Morgan Stanley started coverage on shares of Chagee in a research report on Monday, June 2nd. They set an "overweight" rating and a $37.50 price target on the stock. Wall Street Zen upgraded shares of Chagee from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, CICC Research initiated coverage on shares of Chagee in a research report on Friday, June 6th. They issued an "outperform" rating and a $41.50 target price on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Chagee presently has an average rating of "Buy" and an average target price of $40.80.

Chagee Trading Down 3.9%

The firm has a 50 day moving average price of $27.50.

Chagee (NASDAQ:CHA - Get Free Report) last issued its earnings results on Friday, May 30th. The company reported $0.54 EPS for the quarter. The firm had revenue of $467.53 million for the quarter.

Hedge Funds Weigh In On Chagee

A number of institutional investors have recently bought and sold shares of the company. FACTORIAL MANAGEMENT Ltd acquired a new position in shares of Chagee in the second quarter valued at approximately $178,000. Matthews International Capital Management LLC acquired a new position in Chagee during the 2nd quarter worth approximately $1,401,000. LBP AM SA acquired a new position in Chagee during the 2nd quarter worth approximately $1,619,000. Franchise Capital Ltd acquired a new position in Chagee during the 2nd quarter worth approximately $4,111,000. Finally, Allianz Asset Management GmbH acquired a new position in Chagee during the 2nd quarter worth approximately $11,034,000.

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.