Chagee Holdings Limited - Sponsored ADR (NASDAQ:CHA - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 1,668,991 shares changed hands during trading, an increase of 27% from the previous session's volume of 1,310,221 shares.The stock last traded at $18.06 and had previously closed at $19.11.
Wall Street Analyst Weigh In
A number of brokerages have commented on CHA. Morgan Stanley began coverage on shares of Chagee in a research report on Monday, June 2nd. They set an "overweight" rating and a $37.50 price objective for the company. Wall Street Zen raised Chagee from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Deutsche Bank Aktiengesellschaft started coverage on Chagee in a research note on Thursday, June 19th. They set a "buy" rating and a $40.50 price target for the company. Citigroup assumed coverage on shares of Chagee in a report on Wednesday, June 4th. They issued a "buy" rating and a $43.70 price target on the stock. Finally, Macquarie started coverage on Chagee in a research report on Friday. They set a "neutral" rating and a $19.00 price target on the stock. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $36.44.
Check Out Our Latest Stock Analysis on CHA
Chagee Stock Down 4.3%
The firm has a fifty day moving average of $23.44.
Chagee (NASDAQ:CHA - Get Free Report) last announced its quarterly earnings data 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.
Hedge Funds Weigh In On Chagee
Several institutional investors and hedge funds have recently modified their holdings of CHA. JPMorgan Chase & Co. acquired a new position in shares of Chagee during the 2nd quarter worth approximately $26,000. Federated Hermes Inc. bought a new position in Chagee in the second quarter valued at approximately $172,000. FACTORIAL MANAGEMENT Ltd acquired a new stake in shares of Chagee in the 2nd quarter valued at $178,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Chagee in the 2nd quarter valued at $204,000. Finally, Geode Capital Management LLC acquired a new position in shares of Chagee during the 2nd quarter worth $232,000.
Chagee Company Profile
(
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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.
Further Reading
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