Chagee (NASDAQ:CHA) Reaches New 52-Week Low – Here’s What Happened

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $16.77 and last traded at $16.95, with a volume of 1142671 shares. The stock had previously closed at $17.12.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wall Street Zen cut Chagee from a “buy” rating to a “hold” rating in a research note on Sunday. Citigroup assumed coverage on Chagee in a research note on Wednesday, June 4th. They set a “buy” rating and a $43.70 price target for the company. Morgan Stanley began coverage on Chagee in a research note on Monday, June 2nd. They set an “overweight” rating and a $37.50 price target for the company. Macquarie began coverage on Chagee in a report on Friday, September 5th. They set a “neutral” rating and a $19.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on Chagee in a report on Thursday, June 19th. They set a “buy” rating and a $40.50 price objective on the stock. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.44.

Chagee Stock Down 1.0%

The stock’s fifty day simple moving average is $23.08.

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

Institutional Trading of Chagee

Several large investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new stake in Chagee in the second quarter valued at $13,764,000. Barings LLC acquired a new stake in shares of Chagee during the second quarter valued at $11,302,000. Allianz Asset Management GmbH acquired a new stake in shares of Chagee during the second quarter valued at $11,034,000. Norges Bank acquired a new stake in shares of Chagee during the second quarter valued at $5,050,000. Finally, MY.Alpha Management HK Advisors Ltd acquired a new stake in shares of Chagee during the second quarter valued at $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.