Brokerages Set Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) Target Price at $30.31

Shares of Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) have earned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $30.3143.

A number of analysts have recently weighed in on CHA shares. JPMorgan Chase & Co. upgraded Chagee from a “neutral” rating to an “overweight” rating and raised their target price for the company from $11.50 to $16.00 in a research note on Thursday, April 2nd. Zacks Research lowered Chagee from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 31st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Chagee in a research report on Friday, March 27th.

Institutional Trading of Chagee

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schroder Investment Management Group acquired a new stake in Chagee in the third quarter worth about $46,150,000. Rakuten Investment Management Inc. acquired a new stake in Chagee in the third quarter worth about $931,000. XTX Topco Ltd acquired a new stake in Chagee in the third quarter worth about $1,159,000. Trexquant Investment LP acquired a new stake in Chagee in the fourth quarter worth about $1,050,000. Finally, Engineers Gate Manager LP increased its position in Chagee by 138.5% in the fourth quarter. Engineers Gate Manager LP now owns 44,888 shares of the company’s stock worth $522,000 after purchasing an additional 26,069 shares during the period.

Chagee Stock Performance

Shares of NASDAQ:CHA opened at $10.17 on Wednesday. Chagee has a twelve month low of $8.98 and a twelve month high of $35.42. The firm has a market cap of $1.87 billion and a PE ratio of 11.30. The business has a fifty day moving average of $10.41 and a 200-day moving average of $11.88.

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.