Chagee (NASDAQ:CHA) Hits New 1-Year Low - Time to Sell?

Key Points

• Chagee Holdings Limited (NASDAQ:CHA) reached a new 52-week low of $16.77 before closing at $16.95, highlighting a decline in share price amid trading activity.
• Wall Street analysts have mixed ratings for Chagee, with one downgrade from a "buy" to a "hold," while others set price targets ranging from $19.00 to $43.70.
• The company reported earnings per share of $0.05, falling short of the expected $0.09, with quarterly revenue also missing estimates, further reflecting the stock's downward trend.

Chagee Holdings Limited - Sponsored ADR (NASDAQ:CHA - Get Free Report)'s stock price reached a new 52-week low on Wednesday . The stock traded as low as $16.77 and last traded at $16.95, with a volume of 1142671 shares changing hands. The stock had previously closed at $17.12.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CHA shares. Citigroup started coverage on Chagee in a research note on Wednesday, June 4th. They issued a "buy" rating and a $43.70 price target for the company. Morgan Stanley initiated coverage on Chagee in a research report on Monday, June 2nd. They set an "overweight" rating and a $37.50 target price for the company. CICC Research initiated coverage on Chagee in a research report on Friday, June 6th. They set an "outperform" rating and a $41.50 target price for the company. Macquarie initiated coverage on Chagee in a report on Friday, September 5th. They set a "neutral" rating and a $19.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Chagee in a report on Thursday, June 19th. They set a "buy" rating and a $40.50 price target for the company. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $36.44.

Chagee Price Performance

The firm's 50 day simple moving average is $22.47.

Chagee (NASDAQ:CHA - Get Free Report) last issued its 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 company had revenue of $465.11 million during the quarter, compared to analyst estimates of $484.14 million.

Institutional Trading of Chagee

A number of large investors have recently bought and sold shares of CHA. JPMorgan Chase & Co. bought a new stake in Chagee in the second quarter valued at $26,000. Federated Hermes Inc. bought a new stake in Chagee in the second quarter valued at $172,000. FACTORIAL MANAGEMENT Ltd bought a new stake in Chagee in the second quarter valued at $178,000. China Universal Asset Management Co. Ltd. bought a new stake in Chagee in the second quarter valued at $204,000. Finally, Geode Capital Management LLC bought a new stake in Chagee in the second quarter valued at $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.