Chagee (NASDAQ:CHA) Sets New 52-Week Low - Time to Sell?

Key Points

• Chagee Holdings Limited's stock (NASDAQ:CHA) hit a new **52-week low** of $20.69 during trading, marking a notable decline from its previous close at $21.68.
• Despite the recent stock drop, **Wall Street analysts** maintain a consensus rating of "Moderate Buy" for Chagee, with price targets ranging from **$37.50** to **$43.70**.
• Institutional investments have shown **interest**, with various hedge funds acquiring new stakes in Chagee, including Federated Hermes and JPMorgan Chase, during the second quarter.

Chagee Holdings Limited - Sponsored ADR (NASDAQ:CHA - Get Free Report)'s share price hit a new 52-week low on Thursday . The stock traded as low as $20.69 and last traded at $20.70, with a volume of 575444 shares traded. The stock had previously closed at $21.68.

Wall Street Analysts Forecast Growth

CHA has been the subject of several analyst reports. Wall Street Zen lowered Chagee from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Citigroup began coverage on Chagee in a research note on Wednesday, June 4th. They set a "buy" rating and a $43.70 price objective for the company. CICC Research assumed coverage on shares of Chagee in a research note on Friday, June 6th. They issued an "outperform" rating and a $41.50 price objective for the company. Morgan Stanley began coverage on shares of Chagee in a research note on Monday, June 2nd. They set an "overweight" rating and a $37.50 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Chagee in a research report on Thursday, June 19th. They issued a "buy" rating and a $40.50 price target for the company. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $40.80.

Chagee Price Performance

The stock's 50-day moving average price is $25.43.

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

Hedge Funds Weigh In On Chagee

Several institutional investors have recently bought and sold shares of CHA. Hudson Bay Capital Management LP acquired a new stake in shares of Chagee in the 2nd quarter worth $2,611,000. Balyasny Asset Management L.P. purchased a new position in Chagee during the second quarter worth about $851,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Chagee in the second quarter valued at about $1,415,000. Fosun International Ltd purchased a new stake in Chagee in the 2nd quarter valued at approximately $986,000. Finally, Federated Hermes Inc. acquired a new position in Chagee during the 2nd quarter worth approximately $172,000.

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.