Chagee (NASDAQ:CHA) Sets New 52-Week Low – Here’s Why

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) hit a new 52-week low during trading on Wednesday . The stock traded as low as $10.20 and last traded at $10.18, with a volume of 509162 shares. The stock had previously closed at $10.72.

Analyst Upgrades and Downgrades

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

Chagee Stock Performance

The stock’s fifty day simple moving average is $12.18 and its two-hundred day simple moving average is $15.73. The stock has a market capitalization of $1.89 billion and a P/E ratio of 11.72.

Chagee (NASDAQ:CHA) last issued its quarterly earnings results on Friday, November 28th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The firm had revenue of $450.67 million for the quarter, compared to the consensus estimate of $458.31 million.

Chagee Announces Dividend

The business also recently declared a dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were given a $0.92 dividend. The ex-dividend date was Monday, December 8th. Chagee’s payout ratio is 98.86%.

Hedge Funds Weigh In On Chagee

A number of hedge funds and other institutional investors have recently made changes to their positions in CHA. Fosun International Ltd boosted its holdings in Chagee by 19,295.0% in the fourth quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock valued at $86,610,000 after acquiring an additional 7,408,691 shares during the last quarter. Schroder Investment Management Group bought a new stake in shares of Chagee in the 3rd quarter valued at $46,150,000. UBS Group AG increased its position in shares of 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 buying 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 raised its stake in Chagee by 2,237.0% during the fourth quarter. Jane Street Group LLC now owns 439,640 shares of the company’s stock worth $5,113,000 after buying 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.