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

Key Points

• Chagee Holdings Limited (NASDAQ:CHA) has reached a new 52-week low, trading at $21.16, a significant drop from its previous close of $21.69.
• Analysts are optimistic about Chagee, with several recent reports rating the stock as a "buy" and setting a consensus price target of $40.80.
• Institutional investors have shown increased interest, with major purchases adding up to over $18 million from multiple firms in the second quarter.

Chagee Holdings Limited - Sponsored ADR (NASDAQ:CHA - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $21.16 and last traded at $21.22, with a volume of 914001 shares trading hands. The stock had previously closed at $21.69.

Analyst Upgrades and Downgrades

CHA has been the subject of several analyst reports. Morgan Stanley initiated coverage on shares of Chagee in a report on Monday, June 2nd. They set an "overweight" rating and a $37.50 price target for the company. Citigroup initiated 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. CICC Research initiated coverage on shares of Chagee in a report on Friday, June 6th. They set an "outperform" rating and a $41.50 price target for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Chagee in a report on Thursday, June 19th. They set a "buy" rating and a $40.50 price target for the company. Finally, Wall Street Zen cut shares of Chagee from a "buy" rating to a "hold" rating in a report on Saturday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.80.

Chagee Stock Performance

The stock has a 50-day moving average of $26.81.

Chagee (NASDAQ:CHA - Get Free Report) last posted its quarterly earnings results 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.

Institutional Investors Weigh In On Chagee

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FACTORIAL MANAGEMENT Ltd bought a new position in Chagee in the 2nd quarter worth about $178,000. Geode Capital Management LLC bought a new stake in Chagee during the second quarter worth approximately $232,000. Ovata Capital Management Ltd bought a new stake in Chagee during the second quarter worth approximately $587,000. Matthews International Capital Management LLC bought a new stake in Chagee during the second quarter worth approximately $1,401,000. Finally, LBP AM SA purchased a new stake in shares of Chagee in the 2nd quarter valued at approximately $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.