Chagee (NASDAQ:CHA) Sees Strong Trading Volume – Still a Buy?

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) saw strong trading volume on Thursday . 1,548,900 shares traded hands during trading, an increase of 38% from the previous session’s volume of 1,126,355 shares.The stock last traded at $14.5910 and had previously closed at $15.28.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CHA shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Chagee in a research note on Monday. Wall Street Zen cut shares of Chagee from a “buy” rating to a “hold” rating in a report on Sunday, September 7th. JPMorgan Chase & Co. initiated coverage on Chagee in a research report on Friday, November 14th. They set an “underweight” rating and a $14.20 target price on the stock. Finally, Macquarie assumed coverage on Chagee in a research report on Friday, September 5th. They issued a “neutral” rating and a $19.00 price target for the company. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $32.73.

Chagee Price Performance

The company has a market cap of $2.65 billion and a P/E ratio of 16.43. The firm has a 50-day moving average of $15.69.

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

Chagee Announces Dividend

The company also recently declared a dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, December 8th.

Institutional Trading of Chagee

A number of hedge funds have recently bought and sold shares of the company. LBP AM SA bought a new stake in shares of Chagee in the 2nd quarter worth approximately $1,619,000. Matthews International Capital Management LLC bought a new stake in Chagee in the second quarter worth $1,401,000. Franchise Capital Ltd purchased a new stake in Chagee during the second quarter valued at about $4,111,000. Allianz Asset Management GmbH bought a new position in shares of Chagee during the second quarter valued at about $11,034,000. Finally, FACTORIAL MANAGEMENT Ltd bought a new position in shares of Chagee during the second quarter valued at about $178,000.

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.