Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) Receives Consensus Rating of “Hold” from Brokerages

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) has been assigned an average rating of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $14.6833.

Several brokerages have weighed in on CHA. Zacks Research raised shares of Chagee from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Weiss Ratings cut shares of Chagee from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, July 30th. Wall Street Zen lowered Chagee from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. CLSA initiated coverage on Chagee in a report on Sunday, May 31st. They set a “hold” rating and a $10.00 price target on the stock. Finally, The Goldman Sachs Group assumed coverage on Chagee in a research report on Sunday, June 21st. They issued a “neutral” rating and a $13.60 price objective on the stock.

Chagee Trading Up 2.4%

Shares of NASDAQ:CHA opened at $10.62 on Friday. The stock has a 50 day moving average of $11.17 and a 200 day moving average of $10.82. The company has a market cap of $1.95 billion, a PE ratio of 15.17 and a beta of 1.58. Chagee has a 12-month low of $8.98 and a 12-month high of $23.90.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Fosun International Ltd boosted its stake in Chagee by 19,295.0% in the 4th quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock worth $86,610,000 after purchasing an additional 7,408,691 shares during the period. UBS Group AG raised 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 valued at $16,298,000 after buying an additional 669,583 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Chagee during the fourth quarter valued at approximately $5,407,000. Jane Street Group LLC lifted its holdings in shares of Chagee by 2,237.0% in the fourth quarter. Jane Street Group LLC now owns 439,640 shares of the company’s stock worth $5,113,000 after buying an additional 420,828 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Chagee in the first quarter worth $2,511,000.

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.