Y Intercept Hong Kong Ltd Takes $427,000 Position in Chagee Holdings Limited – Sponsored ADR $CHA

Y Intercept Hong Kong Ltd bought a new stake in Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) in the first quarter, HoldingsChannel reports. The fund bought 45,880 shares of the company’s stock, valued at approximately $427,000.

Several other institutional investors also recently added to or reduced their stakes in CHA. Fosun International Ltd lifted its stake in Chagee by 19,295.0% in the fourth quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock valued at $86,610,000 after buying an additional 7,408,691 shares during the last quarter. UBS Group AG grew its position in shares of Chagee by 212.5% during the third quarter. UBS Group AG now owns 984,755 shares of the company’s stock worth $16,298,000 after acquiring an additional 669,583 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Chagee in the 4th quarter valued at $5,407,000. Jane Street Group LLC increased its holdings in shares of Chagee by 2,237.0% in the 4th quarter. Jane Street Group LLC now owns 439,640 shares of the company’s stock valued at $5,113,000 after acquiring an additional 420,828 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in Chagee in the 4th quarter valued at $2,091,000.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. CLSA initiated coverage on shares of Chagee in a research report on Sunday, May 31st. They set a “hold” rating and a $10.00 price objective on the stock. The Goldman Sachs Group started coverage on shares of Chagee in a report on Sunday, June 21st. They issued a “neutral” rating and a $13.60 target price for the company. Zacks Research raised Chagee from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Weiss Ratings restated a “sell (d)” rating on shares of Chagee in a research report on Wednesday, June 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $15.50 price objective on shares of Chagee in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.68.

Chagee Trading Down 3.4%

Shares of CHA opened at $11.28 on Wednesday. The stock’s 50 day moving average is $11.16 and its two-hundred day moving average is $11.08. Chagee Holdings Limited – Sponsored ADR has a twelve month low of $8.98 and a twelve month high of $27.30. The firm has a market capitalization of $2.07 billion, a PE ratio of 16.11 and a beta of 1.62.

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. “Quality, Health, and Convenience” is the guiding principle of how we make our products.