130,098 Shares in Chagee Holdings Limited - Sponsored ADR $CHA Purchased by Empowered Funds LLC

Key Points

• Empowered Funds LLC initiated a position in Chagee Holdings, purchasing 130,098 shares worth approximately $1.21 million, or about 0.07% of the company.
• Several other institutional investors also bought or expanded their Chagee holdings, including Renaissance Technologies, Y Intercept Hong Kong, Virtu Financial, and Caitong International Asset Management.
• Chagee shares opened at $10.18, near the lower end of their $8.98–$23.90 12-month range. Analysts have a consensus “Hold” rating and an average price target of $14.68.

Empowered Funds LLC bought a new position in Chagee Holdings Limited - Sponsored ADR (NASDAQ:CHA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 130,098 shares of the company's stock, valued at approximately $1,211,000. Empowered Funds LLC owned about 0.07% of Chagee as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in shares of Chagee during the 1st quarter valued at about $2,511,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Chagee during the first quarter valued at approximately $427,000. Caitong International Asset Management Co. Ltd lifted its position in Chagee by 5,007.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,546 shares of the company's stock valued at $53,000 after purchasing an additional 4,457 shares during the period. Virtu Financial LLC lifted its position in Chagee by 355.9% during the fourth quarter. Virtu Financial LLC now owns 54,304 shares of the company's stock valued at $632,000 after purchasing an additional 42,393 shares during the period. Finally, Vident Advisory LLC purchased a new stake in Chagee in the fourth quarter worth approximately $260,000.

Chagee Stock Up 0.2%

Shares of NASDAQ:CHA opened at $10.18 on Friday. The stock has a market capitalization of $1.87 billion, a PE ratio of 14.54 and a beta of 1.58. The firm's 50 day moving average price is $11.46 and its 200-day moving average price is $10.94. Chagee Holdings Limited - Sponsored ADR has a twelve month low of $8.98 and a twelve month high of $23.90.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Weiss Ratings downgraded shares of Chagee from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, July 30th. Morgan Stanley reissued an "overweight" rating and set a $15.50 price target on shares of Chagee in a report on Friday, May 29th. CLSA initiated coverage on Chagee in a research note on Sunday, May 31st. They issued a "hold" rating and a $10.00 price target on the stock. The Goldman Sachs Group assumed coverage on Chagee in a report on Sunday, June 21st. They issued a "neutral" rating and a $13.60 price objective for the company. Finally, Wall Street Zen cut Chagee from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 12th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Chagee has a consensus rating of "Hold" and an average target price of $14.68.

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. “Quality, Health, and Convenience” is the guiding principle of how we make our products.

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