Chagee (NASDAQ:CHA) Hits New 12-Month Low - Should You Sell?

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 on Wednesday . The company traded as low as $23.00 and last traded at $23.11, with a volume of 598177 shares. The stock had previously closed at $23.19.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Chagee from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Morgan Stanley assumed coverage on shares of Chagee in a research note on Monday, June 2nd. They set an "overweight" rating and a $37.50 target price on the stock. CICC Research assumed coverage on shares of Chagee in a research note on Friday, June 6th. They set an "outperform" rating and a $41.50 target price on the stock. Citigroup assumed coverage on shares of Chagee in a research report on Wednesday, June 4th. They set a "buy" rating and a $43.70 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Chagee in a research report on Thursday, June 19th. They set a "buy" rating and a $40.50 price objective for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $40.80.

Chagee Trading Down 3.9%

The company has a fifty day moving average price of $27.50.

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

Institutional Trading of Chagee

A number of hedge funds have recently made changes to their positions in CHA. FACTORIAL MANAGEMENT Ltd bought a new position in shares of Chagee in the second quarter valued at approximately $178,000. Matthews International Capital Management LLC acquired a new stake in shares of Chagee in the second quarter worth $1,401,000. LBP AM SA acquired a new stake in shares of Chagee in the second quarter worth $1,619,000. Franchise Capital Ltd acquired a new stake in shares of Chagee in the second quarter worth $4,111,000. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Chagee in the second quarter worth $11,034,000.

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.