Chagee (NASDAQ:CHA) Shares Up 9.3% – Should You Buy?

Shares of Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) rose 9.3% on Friday . The stock traded as high as $15.40 and last traded at $15.4450. Approximately 449,004 shares changed hands during trading, a decline of 60% from the average daily volume of 1,123,022 shares. The stock had previously closed at $14.13.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CHA shares. JPMorgan Chase & Co. assumed coverage on Chagee in a report on Friday, November 14th. They set an “underweight” rating and a $14.20 price objective for the company. Macquarie assumed coverage on shares of Chagee in a research note on Friday, September 5th. They set a “neutral” rating and a $19.00 price target for the company. Wall Street Zen lowered shares of Chagee from a “buy” rating to a “hold” rating in a research report on Sunday, September 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chagee in a research report on Tuesday. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $32.73.

Chagee Stock Performance

The stock has a fifty day moving average price of $15.81. The firm has a market cap of $2.77 billion and a price-to-earnings ratio of 25.56.

Chagee (NASDAQ:CHA) last released its quarterly earnings data on Friday, November 28th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07).

Hedge Funds Weigh In On Chagee

Several institutional investors and hedge funds have recently made changes to their positions in the company. LBP AM SA bought a new position in shares of Chagee during the second quarter worth approximately $1,619,000. Matthews International Capital Management LLC acquired a new position in Chagee in the 2nd quarter valued at $1,401,000. Franchise Capital Ltd bought a new position in Chagee during the 2nd quarter worth $4,111,000. Allianz Asset Management GmbH acquired a new stake in shares of Chagee during the second quarter worth $11,034,000. Finally, FACTORIAL MANAGEMENT Ltd bought a new stake in shares of Chagee in the second quarter valued at about $178,000.

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.