Chagee (NASDAQ:CHA) Sets New 1-Year Low - What's Next?

Chagee Holdings Limited - Sponsored ADR (NASDAQ:CHA - Get Free Report) hit a new 52-week low on Thursday . The company traded as low as $24.15 and last traded at $24.44, with a volume of 797355 shares changing hands. The stock had previously closed at $25.63.

Wall Street Analysts Forecast Growth

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

Chagee Trading Down 1.4%

The firm has a 50 day simple moving average of $28.08.

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

Institutional Investors Weigh In On Chagee

Institutional investors have recently bought and sold shares of the company. Allianz Asset Management GmbH bought a new stake in Chagee in the 2nd quarter valued at $11,034,000. Franchise Capital Ltd bought a new stake in Chagee in the 2nd quarter valued at $4,111,000. Matthews International Capital Management LLC acquired a new position in Chagee in the 2nd quarter valued at $1,401,000. Finally, LBP AM SA acquired a new position in Chagee in the 2nd quarter valued at $1,619,000.

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.