Chagee (NASDAQ:CHA) Trading Up 5.8% – Time to Buy?

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) was up 5.8% on Thursday . The stock traded as high as $15.47 and last traded at $15.81. Approximately 79,189 shares were traded during trading, a decline of 93% from the average daily volume of 1,157,684 shares. The stock had previously closed at $14.94.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CHA shares. Macquarie started coverage on Chagee in a research report on Friday, September 5th. They set a “neutral” rating and a $19.00 price objective on the stock. Wall Street Zen downgraded Chagee from a “buy” rating to a “hold” rating in a research note on Sunday, September 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Chagee in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Chagee has a consensus rating of “Moderate Buy” and a consensus target price of $36.44.

Chagee Price Performance

The company has a market cap of $2.85 billion and a P/E ratio of 26.34. The stock has a 50-day simple moving average of $16.48.

Chagee (NASDAQ:CHA) last issued its quarterly earnings results on Friday, August 29th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.04). The company had revenue of $465.11 million for the quarter, compared to the consensus estimate of $484.14 million.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new position in shares of Chagee during the 2nd quarter valued at approximately $26,000. Quantbot Technologies LP acquired a new position in shares of Chagee during the third quarter valued at approximately $34,000. Federated Hermes Inc. acquired a new stake in shares of Chagee in the second quarter worth approximately $172,000. FACTORIAL MANAGEMENT Ltd purchased a new stake in shares of Chagee during the second quarter worth approximately $178,000. Finally, China Universal Asset Management Co. Ltd. purchased a new position in Chagee in the 2nd quarter valued at $204,000.

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.