Chagee (NASDAQ:CHA) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) saw unusually-strong trading volume on Monday . Approximately 517,649 shares traded 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.

Analysts Set New Price Targets

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

Chagee Stock Up 1.4%

The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 18.46 and a beta of 1.72. The stock has a 50 day moving average of $10.30 and a 200 day moving average of $11.61.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CHA. JPMorgan Chase & Co. acquired a new position in Chagee during the second quarter worth about $26,000. Quantbot Technologies LP acquired a new position in Chagee during the third quarter worth about $34,000. Caitong International Asset Management Co. Ltd raised its stake in Chagee by 3,141.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,885 shares of the company’s stock worth $34,000 after acquiring an additional 2,796 shares in the last quarter. Geode Capital Management LLC acquired a new position in Chagee during the fourth quarter worth about $147,000. Finally, Federated Hermes Inc. acquired a new position in Chagee during the second quarter worth about $172,000.

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