Chagee (NASDAQ:CHA) Reaches New 12-Month Low – Here’s What Happened

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $9.91 and last traded at $9.9550, with a volume of 210206 shares. The stock had previously closed at $10.12.

Analyst Ratings Changes

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

Chagee Stock Performance

The company has a market capitalization of $1.82 billion and a P/E ratio of 11.28. The stock’s fifty day moving average price is $11.06 and its 200-day moving average price is $13.60.

Institutional Trading of Chagee

A number of hedge funds have recently made changes to their positions in the business. Fosun International Ltd increased its holdings in shares of Chagee by 19,295.0% during the 4th quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock worth $86,610,000 after acquiring an additional 7,408,691 shares during the last quarter. Schroder Investment Management Group acquired a new stake in Chagee during the 3rd quarter valued at $46,150,000. UBS Group AG boosted its position in Chagee by 212.5% during the third quarter. UBS Group AG now owns 984,755 shares of the company’s stock worth $16,298,000 after purchasing an additional 669,583 shares during the period. Marshall Wace LLP bought a new position in Chagee during the second quarter worth $13,764,000. Finally, Jane Street Group LLC increased its holdings in shares of Chagee by 2,237.0% in the fourth quarter. Jane Street Group LLC now owns 439,640 shares of the company’s stock valued at $5,113,000 after purchasing an additional 420,828 shares during the last quarter.

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.