Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) Given Average Recommendation of “Hold” by Brokerages

Shares of Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) have been given an average rating of “Hold” by the eight research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $19.1667.

CHA has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded shares of Chagee from a “neutral” rating to an “overweight” rating and upped their target price for the company from $11.50 to $16.00 in a report on Thursday, April 2nd. Wall Street Zen upgraded shares of Chagee from a “hold” rating to a “strong-buy” rating in a report on Saturday. Zacks Research raised shares of Chagee from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Weiss Ratings reiterated a “sell (d)” rating on shares of Chagee in a research report on Friday, March 27th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $15.50 price target on shares of Chagee in a research report on Friday, May 29th.

Hedge Funds Weigh In On Chagee

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new position in Chagee in the 2nd quarter valued at $26,000. Quantbot Technologies LP acquired a new position in shares of Chagee during the 3rd quarter worth $34,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Chagee by 3,141.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,885 shares of the company’s stock worth $34,000 after purchasing an additional 2,796 shares during the period. Federated Hermes Inc. acquired a new position in shares of Chagee during the 2nd quarter worth $172,000. Finally, Geode Capital Management LLC acquired a new position in shares of Chagee during the 2nd quarter worth $232,000.

Chagee Stock Down 0.3%

Shares of NASDAQ:CHA opened at $11.54 on Friday. The firm’s 50 day moving average price is $10.48 and its 200 day moving average price is $11.54. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 16.49 and a beta of 1.73. Chagee has a fifty-two week low of $8.98 and a fifty-two week high of $33.69.

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.