Chagee (NASDAQ:CHA) Reaches New 1-Year Low - Should You Sell?

Key Points

• Chagee Holdings Limited's stock has reached a new 52-week low at $16.17, with a last trading price of $16.22, reflecting a decrease from the previous day's close of $16.74.
• Analysts have given Chagee mixed ratings, with a consensus rating of "Moderate Buy" and a target price of $36.44, but Weiss Ratings has issued a "sell" rating on the shares.
• The company's quarterly earnings report indicated a loss, with reported EPS of $0.05, missing expectations of $0.09, and revenue of $465.11 million, falling short of estimates of $484.14 million.

Chagee Holdings Limited - Sponsored ADR (NASDAQ:CHA - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $16.17 and last traded at $16.22, with a volume of 766807 shares changing hands. The stock had previously closed at $16.74.

Analyst Ratings Changes

A number of research analysts recently issued reports on CHA shares. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Chagee in a report on Saturday, September 27th. Deutsche Bank Aktiengesellschaft started coverage on Chagee in a report on Thursday, June 19th. They set a "buy" rating and a $40.50 price objective for the company. Macquarie started coverage on Chagee in a report on Friday, September 5th. They set a "neutral" rating and a $19.00 price objective for the company. Finally, Wall Street Zen cut Chagee from a "buy" rating to a "hold" rating in a report on Sunday, September 7th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.44.

Chagee Stock Down 2.9%

The firm's 50 day moving average price is $19.55.

Chagee (NASDAQ:CHA - Get Free Report) last announced its quarterly earnings results on Friday, August 29th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). The firm had revenue of $465.11 million during the quarter, compared to the consensus estimate of $484.14 million.

Hedge Funds Weigh In On Chagee

Several institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP acquired a new position in shares of Chagee in the 2nd quarter valued at approximately $13,764,000. Barings LLC acquired a new position in shares of Chagee in the 2nd quarter valued at approximately $11,302,000. Allianz Asset Management GmbH acquired a new position in shares of Chagee in the 2nd quarter valued at approximately $11,034,000. Norges Bank acquired a new position in shares of Chagee in the 2nd quarter valued at approximately $5,050,000. Finally, MY.Alpha Management HK Advisors Ltd acquired a new position in shares of Chagee in the 2nd quarter valued at approximately $4,632,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.