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

Key Points

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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 $15.65 and last traded at $16.41, with a volume of 118044 shares traded. The stock had previously closed at $16.10.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CHA shares. Wall Street Zen lowered shares of Chagee from a "buy" rating to a "hold" rating in a report on Sunday, September 7th. Macquarie started coverage on shares of Chagee in a report on Friday, September 5th. They set a "neutral" rating and a $19.00 price objective on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Chagee in a report on Thursday, June 19th. They set a "buy" rating and a $40.50 price objective on the stock. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Chagee in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Chagee presently has an average rating of "Moderate Buy" and an average price target of $36.44.

Chagee Trading Up 2.7%

The stock has a 50 day moving average of $18.94.

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

Institutional Investors Weigh In On Chagee

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new position in Chagee during the second quarter worth $13,764,000. Barings LLC acquired a new position in Chagee during the second quarter worth $11,302,000. Allianz Asset Management GmbH acquired a new position in Chagee during the second quarter worth $11,034,000. Norges Bank acquired a new position in Chagee during the second quarter worth $5,050,000. Finally, MY.Alpha Management HK Advisors Ltd acquired a new position in Chagee during the second quarter worth $4,632,000.

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.

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