Chagee (NASDAQ:CHA) Reaches New 12-Month Low - Here's Why

Key Points

• Chagee Holdings Limited reached a new 12-month low, trading at $16.17, with a closing price of $16.55 and a trading volume of over 1.1 million shares.
• Analysts have varied opinions on Chagee's stock, with a consensus rating of "Moderate Buy" and a target price averaging $36.44, despite recent earnings missing estimates.
• Several institutional investors have recently acquired new stakes in Chagee, indicating growing interest in the company despite its recent stock performance.

Chagee Holdings Limited - Sponsored ADR (NASDAQ:CHA - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $16.17 and last traded at $16.55, with a volume of 1158459 shares. The stock had previously closed at $16.64.

Analysts Set New Price Targets

A number of research analysts recently issued reports 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 target for the company. Wall Street Zen cut shares of Chagee from a "buy" rating to a "hold" rating in a report on Sunday, September 7th. CICC Research started coverage on shares of Chagee in a research report on Friday, June 6th. They set an "outperform" rating and a $41.50 price target for the company. Macquarie began coverage on shares of Chagee in a report on Friday, September 5th. They issued a "neutral" rating and a $19.00 price target for the company. Finally, Morgan Stanley assumed coverage on shares of Chagee in a report on Monday, June 2nd. They set an "overweight" rating and a $37.50 target price for the company. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.44.

Chagee Price Performance

The company has a 50 day simple moving average of $22.22.

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

Institutional Trading of Chagee

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. acquired a new stake in Chagee during the 2nd quarter worth about $26,000. Federated Hermes Inc. bought a new position in shares of Chagee in the 2nd quarter worth about $172,000. FACTORIAL MANAGEMENT Ltd bought a new position in shares of Chagee in the 2nd quarter worth about $178,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Chagee in the 2nd quarter worth about $204,000. Finally, Geode Capital Management LLC bought a new position in shares of Chagee in the 2nd quarter worth about $232,000.

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.

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