Renaissance Technologies LLC Purchases New Stake in Chagee Holdings Limited - Sponsored ADR $CHA

Key Points

• Renaissance Technologies acquired 269,700 Chagee shares worth approximately $2.51 million, representing about 0.15% of the company. Several other institutional investors also recently initiated or increased positions.
• Chagee shares opened at $10.18, with a 52-week range of $8.98 to $23.90 and a market capitalization of approximately $1.87 billion.
• Analysts have a consensus “Hold” rating, with two Buy ratings, five Holds and one Sell; the average price target is $14.68.

Renaissance Technologies LLC purchased a new stake in shares of Chagee Holdings Limited - Sponsored ADR (NASDAQ:CHA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 269,700 shares of the company's stock, valued at approximately $2,511,000. Renaissance Technologies LLC owned approximately 0.15% of Chagee as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CHA. JPMorgan Chase & Co. purchased a new stake in shares of Chagee in the second quarter worth about $26,000. Quantbot Technologies LP acquired a new position in Chagee during the 3rd quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd lifted its position in Chagee by 3,141.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,885 shares of the company's stock worth $34,000 after acquiring an additional 2,796 shares in the last quarter. Federated Hermes Inc. purchased a new position in Chagee in the 2nd quarter worth approximately $172,000. Finally, Geode Capital Management LLC purchased a new position in Chagee in the 2nd quarter worth approximately $232,000.

Chagee Price Performance

Shares of NASDAQ CHA opened at $10.18 on Monday. Chagee Holdings Limited - Sponsored ADR has a fifty-two week low of $8.98 and a fifty-two week high of $23.90. The business has a 50 day moving average price of $11.46 and a two-hundred day moving average price of $10.93. The firm has a market cap of $1.87 billion, a PE ratio of 14.54 and a beta of 1.57.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Chagee from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, July 30th. The Goldman Sachs Group started coverage on shares of Chagee in a research note on Sunday, June 21st. They issued a "neutral" rating and a $13.60 target price for the company. Zacks Research raised shares of Chagee from a "strong sell" rating to a "hold" rating in a report on Monday, June 1st. Wall Street Zen downgraded shares of Chagee from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 12th. Finally, CLSA began coverage on shares of Chagee in a report on Sunday, May 31st. They issued a "hold" rating and a $10.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $14.68.

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

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