Chagee (NASDAQ:CHA) Stock Price Down 5.1% – Should You Sell?

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA)’s stock price fell 5.1% during mid-day trading on Monday . The company traded as low as $10.08 and last traded at $10.04. 305,067 shares were traded during mid-day trading, a decline of 50% from the average session volume of 606,445 shares. The stock had previously closed at $10.58.

Analysts Set New Price Targets

A number of research firms have recently commented on CHA. JPMorgan Chase & Co. raised shares of 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. Zacks Research raised shares of Chagee from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Jefferies Financial Group assumed coverage on shares of Chagee in a research note on Wednesday, January 7th. They set a “hold” rating and a $14.00 price target on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Chagee in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Chagee from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $29.67.

Chagee Stock Performance

The stock has a fifty day moving average price of $11.18 and a 200-day moving average price of $13.73. The firm has a market cap of $1.86 billion and a PE ratio of 11.52.

Institutional Investors Weigh In On Chagee

Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC purchased a new position in shares of Chagee in the 2nd quarter valued at $232,000. JPMorgan Chase & Co. purchased a new stake in Chagee during the 2nd quarter worth $26,000. Barings LLC acquired a new stake in Chagee in the 2nd quarter valued at $11,302,000. Russell Investments Group Ltd. purchased a new position in Chagee in the second quarter valued at about $1,226,000. Finally, MY.Alpha Management HK Advisors Ltd acquired a new position in shares of Chagee during the second quarter worth about $4,632,000.

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.