Chagee (NASDAQ:CHA) Sees Unusually-High Trading Volume – Time to Buy?

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) saw unusually-high trading volume on Friday . 678,178 shares changed hands during mid-day trading, an increase of 12% from the previous session’s volume of 607,686 shares.The stock last traded at $10.54 and had previously closed at $10.35.

Analyst Upgrades and Downgrades

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

Chagee Stock Performance

The stock’s fifty day simple moving average is $11.06 and its two-hundred day simple moving average is $10.80. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 14.81 and a beta of 1.58.

Institutional Trading of Chagee

Several large investors have recently added to or reduced their stakes in CHA. Fosun International Ltd boosted its position in shares of Chagee by 19,295.0% in the fourth quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock worth $86,610,000 after buying an additional 7,408,691 shares during the period. UBS Group AG lifted its position in Chagee by 212.5% during the 3rd quarter. UBS Group AG now owns 984,755 shares of the company’s stock worth $16,298,000 after acquiring an additional 669,583 shares in the last quarter. Marshall Wace LLP acquired a new stake in Chagee in the fourth quarter valued at approximately $5,407,000. Jane Street Group LLC grew its position in 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 acquiring an additional 420,828 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Chagee during the first quarter valued at approximately $2,511,000.

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