Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) Shares Shorted: Short Interest Up 95.1% in September

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 1,865,003 shares, a growth of 95.1% from the August 31st total of 955,726 shares. Based on an average trading volume of 1,491,608 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.0% of the shares of the company are short sold.

Institutional Investors Weigh In On Chagee

Several large investors have recently modified their holdings of CHA. Empowered Funds LLC acquired a new stake in Chagee in the 1st quarter valued at $1,211,000. Renaissance Technologies LLC acquired a new position in Chagee during the first quarter worth $2,511,000. Bank of America Corp DE grew its holdings in shares of Chagee by 5,266.8% in the 1st quarter. Bank of America Corp DE now owns 50,502 shares of the company’s stock worth $470,000 after purchasing an additional 49,561 shares during the last quarter. Fosun International Ltd grew its holdings in shares of Chagee by 19,295.0% in the 4th quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock worth $86,610,000 after purchasing an additional 7,408,691 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Chagee during the 1st quarter worth about $427,000.

Chagee Stock Up 3.0%

CHA traded up $0.34 during trading on Wednesday, reaching $11.70. 870,468 shares of the company’s stock were exchanged, compared to its average volume of 704,607. The company has a market capitalization of $2.15 billion, a P/E ratio of 11.58 and a beta of 1.60. The business has a 50 day moving average price of $11.24 and a 200 day moving average price of $10.99. Chagee has a fifty-two week low of $8.98 and a fifty-two week high of $17.66.

Chagee (NASDAQ:CHA) last released its quarterly earnings data on Friday, August 28th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. The company had revenue of $502.59 million during the quarter. Chagee had a net margin of 10.23% and a return on equity of 16.43%. As a group, research analysts forecast that Chagee will post 1.31 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Weiss Ratings downgraded shares of Chagee from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, July 30th. The Goldman Sachs Group began coverage on shares of Chagee in a research note on Sunday, June 21st. They issued a “neutral” rating and a $13.60 target price for the company. Finally, Wall Street Zen downgraded Chagee from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Chagee has an average rating of “Hold” and an average target price of $13.82.

Chagee Company Profile

Chagee Holding Limited operates the CHAGEE beverage brand, which specializes in freshly prepared tea drinks inspired by traditional Chinese tea culture. Its menu includes tea-based milk beverages, fruit tea and other drinks made with tea leaves, milk and related ingredients. The company positions CHAGEE as a premium, modern tea brand serving customers through branded retail locations.

Founded in 2017, Chagee has expanded its store network primarily through mainland China, while also serving customers in Southeast Asia.