Chagee (NASDAQ:CHA) Sets New 1-Year Low - What's Next?

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) 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 changing hands. The stock had previously closed at $21.69.

Analyst Upgrades and Downgrades

CHA has been the topic of several analyst reports. Citigroup started coverage on Chagee in a report on Wednesday, June 4th. They set a "buy" rating and a $43.70 target price on the stock. Morgan Stanley began coverage on Chagee in a report on Monday, June 2nd. They issued an "overweight" rating and a $37.50 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Chagee in a report on Thursday, June 19th. They issued a "buy" rating and a $40.50 target price for the company. CICC Research began coverage on Chagee in a research note on Friday, June 6th. They issued an "outperform" rating and a $41.50 price objective for the company. Finally, Wall Street Zen raised Chagee from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $40.80.

Chagee Price Performance

The company's 50-day simple moving average is $27.38.

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

Hedge Funds Weigh In On Chagee

A number of institutional investors have recently added to or reduced their stakes in CHA. FACTORIAL MANAGEMENT Ltd purchased a new stake in Chagee during the 2nd quarter valued at about $178,000. Matthews International Capital Management LLC bought a new position in Chagee during the 2nd quarter valued at approximately $1,401,000. LBP AM SA bought a new position in Chagee during the 2nd quarter valued at approximately $1,619,000. Franchise Capital Ltd bought a new position in Chagee during the 2nd quarter valued at approximately $4,111,000. Finally, Allianz Asset Management GmbH bought a new position in Chagee during the 2nd quarter valued at approximately $11,034,000.

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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