Brokerages Set Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) PT at $29.67

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) has been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the company, 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 12 month target price among brokers that have issued a report on the stock in the last year is $29.6714.

CHA has been the subject of a number of recent analyst reports. Jefferies Financial Group assumed coverage on shares of Chagee in a research note on Wednesday, January 7th. They issued a “hold” rating and a $14.00 price target for the company. Zacks Research upgraded shares of Chagee from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. raised Chagee from an “underweight” rating to a “neutral” rating and lowered their price target for the stock from $12.40 to $11.50 in a research report on Friday, February 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chagee in a research report on Monday, December 29th. Finally, Wall Street Zen raised Chagee from a “sell” rating to a “hold” rating in a report on Sunday, December 14th.

Hedge Funds Weigh In On Chagee

Several large investors have recently modified their holdings of the stock. Taikang Asset Management Hong Kong Co Ltd acquired a new position in shares of Chagee in the second quarter valued at approximately $1,828,000. Ovata Capital Management Ltd bought a new stake in Chagee in the 2nd quarter valued at $587,000. Barings LLC bought a new stake in Chagee in the 2nd quarter valued at $11,302,000. Long Corridor Asset Management Ltd bought a new position in Chagee during the 2nd quarter worth $3,264,000. Finally, MY.Alpha Management HK Advisors Ltd acquired a new stake in shares of Chagee during the second quarter worth $4,632,000.

Chagee Trading Down 2.9%

NASDAQ CHA opened at $10.72 on Friday. Chagee has a 12 month low of $9.95 and a 12 month high of $41.80. The stock has a 50 day moving average of $11.57 and a 200-day moving average of $14.70. The company has a market cap of $1.97 billion and a PE ratio of 12.18.

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.