Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) Receives Average Recommendation of “Hold” from Brokerages

Shares of Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) have been assigned an average rating of “Hold” from the eight brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $14.6833.

A number of equities research analysts have weighed in on the stock. Zacks Research upgraded shares of Chagee from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Morgan Stanley reaffirmed an “overweight” rating and issued a $15.50 price objective on shares of Chagee in a report on Friday, May 29th. CLSA initiated coverage on Chagee in a report on Sunday, May 31st. They issued a “hold” rating and a $10.00 target price on the stock. Weiss Ratings cut Chagee from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, July 30th. Finally, The Goldman Sachs Group initiated coverage on Chagee in a research note on Sunday, June 21st. They set a “neutral” rating and a $13.60 price target for the company.

Institutional Trading of Chagee

Several large investors have recently added to or reduced their stakes in CHA. JPMorgan Chase & Co. bought a new position in Chagee in the second quarter worth approximately $26,000. Quantbot Technologies LP purchased a new stake in shares of Chagee in the 3rd quarter worth $34,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Chagee by 3,141.6% in the 4th 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 in the last quarter. Federated Hermes Inc. bought a new position in Chagee in the 2nd quarter worth $172,000. Finally, Geode Capital Management LLC bought a new position in Chagee in the 2nd quarter worth $232,000.

Chagee Stock Up 2.4%

Shares of Chagee stock opened at $10.62 on Friday. Chagee has a twelve month low of $8.98 and a twelve month high of $23.90. The company’s 50 day moving average is $11.17 and its 200 day moving average is $10.82. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 15.17 and a beta of 1.58.

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.