Chagee (NASDAQ:CHA) Shares Gap Down – Should You Sell?

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) shares gapped down prior to trading on Friday . The stock had previously closed at $12.21, but opened at $11.10. Chagee shares last traded at $11.1830, with a volume of 2,766,249 shares traded.

Analyst Ratings Changes

CHA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. began coverage on shares of Chagee in a research report on Friday, November 14th. They issued an “underweight” rating and a $14.20 price objective for the company. Weiss Ratings restated a “sell (d)” rating on shares of Chagee in a report on Monday, December 22nd. Wall Street Zen upgraded Chagee from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Finally, Macquarie assumed coverage on Chagee in a research note on Friday, September 5th. They set a “neutral” rating and a $19.00 target price for the company. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $32.73.

Chagee Stock Performance

The stock has a market cap of $2.18 billion and a price-to-earnings ratio of 13.52. The business has a 50-day simple moving average of $14.57 and a two-hundred day simple moving average of $19.38.

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

Chagee Dividend Announcement

The business also recently declared a dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were paid a $0.92 dividend. The ex-dividend date was Monday, December 8th. Chagee’s dividend payout ratio (DPR) is currently 98.86%.

Hedge Funds Weigh In On Chagee

Several hedge funds and other institutional investors have recently made changes to their positions in CHA. JPMorgan Chase & Co. bought a new position in shares of Chagee in the 2nd quarter valued at about $26,000. Quantbot Technologies LP acquired a new stake in Chagee in the 3rd quarter valued at about $34,000. Federated Hermes Inc. bought a new position in Chagee during the second quarter worth about $172,000. FACTORIAL MANAGEMENT Ltd acquired a new position in Chagee during the second quarter worth approximately $178,000. Finally, Polymer Capital Management HK LTD bought a new stake in Chagee in the third quarter valued at approximately $182,000.

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.