Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) Given Consensus Rating of “Hold” by Brokerages

Shares of Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) have earned a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $14.6833.

CHA has been the subject of a number of research reports. The Goldman Sachs Group assumed coverage on Chagee in a research note on Sunday, June 21st. They issued a “neutral” rating and a $13.60 price target for the company. CLSA began coverage on Chagee in a research report on Sunday, May 31st. They set a “hold” rating and a $10.00 price objective on the stock. Wall Street Zen raised Chagee from a “hold” rating to a “strong-buy” rating in a report on Saturday, June 6th. Morgan Stanley reiterated an “overweight” rating and issued a $15.50 target price on shares of Chagee in a research report on Friday, May 29th. Finally, JPMorgan Chase & Co. raised Chagee from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $11.50 to $16.00 in a research note on Thursday, April 2nd.

Chagee Price Performance

Shares of Chagee stock opened at $11.97 on Thursday. The company’s 50 day moving average price is $11.10 and its two-hundred day moving average price is $11.19. The firm has a market capitalization of $2.20 billion, a P/E ratio of 17.10 and a beta of 1.61. Chagee has a fifty-two week low of $8.98 and a fifty-two week high of $29.10.

Institutional Investors Weigh In On Chagee

Several hedge funds have recently added to or reduced their stakes in CHA. JPMorgan Chase & Co. bought a new stake in Chagee during the 2nd quarter worth approximately $26,000. Quantbot Technologies LP bought a new position in shares of Chagee during the third quarter valued at $34,000. Caitong International Asset Management Co. Ltd raised 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 acquiring an additional 2,796 shares during the last quarter. Geode Capital Management LLC acquired a new position in shares of Chagee during the fourth quarter worth $147,000. Finally, Federated Hermes Inc. acquired a new position in shares of Chagee during the second quarter worth $172,000.

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.