Chagee (NASDAQ:CHA) Sees Unusually-High Trading Volume – Here’s What Happened

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) saw strong trading volume on Monday . 517,649 shares changed hands during trading, a decline of 12% from the previous session’s volume of 591,219 shares.The stock last traded at $13.0420 and had previously closed at $12.76.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chagee in a research report on Friday, March 27th. Zacks Research cut Chagee from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 31st. CLSA began coverage on Chagee in a research report on Sunday. They set a “hold” rating and a $10.00 price objective on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $15.50 target price on shares of Chagee in a report on Friday. Finally, JPMorgan Chase & Co. raised shares of Chagee from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $11.50 to $16.00 in a report on Thursday, April 2nd. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $25.03.

Chagee Stock Performance

The firm has a market capitalization of $2.34 billion, a PE ratio of 18.21 and a beta of 1.73. The company has a fifty day moving average price of $10.35 and a 200-day moving average price of $11.60.

Institutional Trading of Chagee

Hedge funds have recently modified their holdings of the company. Schroder Investment Management Group purchased a new stake in shares of Chagee during the 3rd quarter worth approximately $46,150,000. Athos Capital Ltd increased its position in shares of Chagee by 7.1% during the 3rd quarter. Athos Capital Ltd now owns 174,332 shares of the company’s stock valued at $2,885,000 after purchasing an additional 11,532 shares during the last quarter. Polymer Capital Management HK LTD increased its position in shares of Chagee by 39.1% during the 4th quarter. Polymer Capital Management HK LTD now owns 15,300 shares of the company’s stock valued at $178,000 after purchasing an additional 4,300 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of Chagee during the 2nd quarter valued at approximately $172,000. Finally, Geode Capital Management LLC bought a new position in shares of Chagee during the 4th quarter valued at approximately $147,000.

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.