Short Interest in Chagee Holdings Limited - Sponsored ADR (NASDAQ:CHA) Decreases By 28.1%

Key Points

• Short interest fell by 28.1% to 1,042,317 shares as of March 13, equal to about 0.6% of the stock and a short-interest ratio of 2.3 days.
• Several institutions recently opened or increased positions — including JPMorgan Chase, Quantbot Technologies, Federated Hermes, China Universal and Caitong — indicating renewed institutional buying.
• Shares trade near $9.53 (close to the 12‑month low) with a market cap of $1.75B and a PE of 10.8; analysts' consensus is an average rating of Hold with a $29.67 average price target.

Chagee Holdings Limited - Sponsored ADR (NASDAQ:CHA - Get Free Report) was the target of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 1,042,317 shares, a decrease of 28.1% from the February 26th total of 1,449,341 shares. Currently, 0.6% of the company's stock are sold short. Based on an average daily volume of 445,148 shares, the short-interest ratio is currently 2.3 days.

Institutional Trading of Chagee

A number of hedge funds have recently bought and sold shares of CHA. JPMorgan Chase & Co. purchased a new position in Chagee during the second quarter worth approximately $26,000. Quantbot Technologies LP purchased a new stake in shares of Chagee in the third quarter valued at about $34,000. Caitong International Asset Management Co. Ltd raised its stake in Chagee by 3,141.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,885 shares of the company's stock worth $34,000 after purchasing an additional 2,796 shares during the period. Federated Hermes Inc. acquired a new position in Chagee in the 2nd quarter valued at about $172,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in shares of Chagee in the 2nd quarter valued at approximately $204,000.

Chagee Trading Down 3.5%

Shares of Chagee stock opened at $9.53 on Friday. Chagee has a twelve month low of $9.51 and a twelve month high of $41.80. The firm's 50-day moving average price is $10.96 and its 200 day moving average price is $13.52. The firm has a market capitalization of $1.75 billion and a PE ratio of 10.83.

Analyst Ratings Changes

CHA has been the topic of a number of research analyst reports. Zacks Research raised Chagee from a "strong sell" rating to a "hold" rating in a report on Friday, January 30th. Wall Street Zen upgraded shares of Chagee from a "sell" rating to a "hold" rating in a research note on Sunday, December 14th. Jefferies Financial Group assumed coverage on shares of Chagee in a research note on Wednesday, January 7th. They issued a "hold" rating and a $14.00 price objective on the stock. Weiss Ratings reissued a "sell (d)" rating on shares of Chagee in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. upgraded shares of Chagee from an "underweight" rating to a "neutral" rating and decreased their target price for the company from $12.40 to $11.50 in a research report on Friday, February 13th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Chagee presently has an average rating of "Hold" and an average price target of $29.67.

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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