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

Shares of Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) have received an average rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $14.6833.

CHA has been the topic of several recent analyst reports. CLSA assumed coverage on shares of Chagee in a report on Sunday, May 31st. They issued a “hold” rating and a $10.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chagee in a report on Wednesday, June 24th. Zacks Research upgraded shares of Chagee from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Wall Street Zen raised shares of Chagee from a “hold” rating to a “strong-buy” rating in a research note on Saturday, June 6th. Finally, The Goldman Sachs Group initiated coverage on shares of Chagee in a research report on Sunday, June 21st. They set a “neutral” rating and a $13.60 price objective for the company.

Chagee Stock Down 0.4%

CHA stock opened at $11.97 on Thursday. Chagee has a 52 week low of $8.98 and a 52 week high of $29.10. The business has a 50-day simple moving average of $11.10 and a 200 day simple moving average of $11.19. The company has a market cap of $2.20 billion, a PE ratio of 17.10 and a beta of 1.61.

Hedge Funds Weigh In On Chagee

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. acquired a new stake in Chagee in the second quarter valued at 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. Federated Hermes Inc. bought a new position in shares of Chagee in the second quarter worth about $172,000. Finally, Geode Capital Management LLC bought a new position in shares of Chagee in the second quarter worth about $232,000.

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.