Chagee (NASDAQ:CHA) Reaches New 12-Month Low – What’s Next?

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) hit a new 52-week low on Wednesday . The company traded as low as $12.18 and last traded at $12.45, with a volume of 637431 shares traded. The stock had previously closed at $12.35.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CHA. Wall Street Zen upgraded Chagee from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Macquarie began coverage on shares of Chagee in a report on Friday, September 5th. They set a “neutral” rating and a $19.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of Chagee in a research note on Friday, November 14th. They issued an “underweight” rating and a $14.20 price target on the stock. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Chagee in a research report on Monday. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.73.

Chagee Stock Performance

The stock has a 50-day moving average of $14.65 and a 200-day moving average of $19.60. The firm has a market cap of $2.25 billion and a price-to-earnings ratio of 13.90.

Chagee (NASDAQ:CHA) last posted its quarterly earnings data on Friday, November 28th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The firm had revenue of $450.67 million for the quarter, compared to the consensus estimate of $458.31 million.

Chagee Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 8th. Chagee’s payout ratio is 98.86%.

Institutional Trading of Chagee

Hedge funds and other institutional investors have recently modified their holdings of the stock. LBP AM SA bought a new stake in Chagee during the second quarter worth about $1,619,000. Matthews International Capital Management LLC bought a new stake in shares of Chagee during the 2nd quarter worth approximately $1,401,000. Franchise Capital Ltd acquired a new stake in shares of Chagee in the 2nd quarter valued at approximately $4,111,000. Allianz Asset Management GmbH bought a new position in shares of Chagee in the second quarter valued at $11,034,000. Finally, FACTORIAL MANAGEMENT Ltd acquired a new position in Chagee during the second quarter worth $178,000.

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.