Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) Receives $29.67 Average Price Target from Analysts

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) has received an average recommendation of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $29.6714.

Several equities analysts recently commented on the stock. Zacks Research raised shares of Chagee from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Weiss Ratings reissued a “sell (d)” rating on shares of Chagee in a report on Monday, December 29th. Wall Street Zen raised shares of Chagee from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Jefferies Financial Group initiated coverage on Chagee in a research report on Wednesday, January 7th. They issued a “hold” rating and a $14.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised Chagee from an “underweight” rating to a “neutral” rating and dropped their price objective for the company from $12.40 to $11.50 in a research note on Friday, February 13th.

Chagee Stock Performance

Shares of CHA opened at $10.93 on Friday. Chagee has a 52-week low of $9.95 and a 52-week high of $41.80. The stock’s 50-day simple moving average is $11.63 and its 200 day simple moving average is $14.86. The stock has a market capitalization of $2.01 billion and a price-to-earnings ratio of 12.42.

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

Institutional Investors Weigh In On Chagee

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. bought a new position in Chagee in the second quarter valued at $26,000. Quantbot Technologies LP bought a new stake in Chagee in the third quarter worth $34,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Chagee by 3,141.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,885 shares of the company’s stock valued at $34,000 after buying an additional 2,796 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Chagee in the second quarter worth about $172,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of Chagee in the 2nd quarter valued at about $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. “Quality, Health, and Convenience” is the guiding principle of how we make our products.