Chagee (NASDAQ:CHA) Hits New 1-Year Low – Here’s What Happened
by Danessa Lincoln · The Markets DailyChagee Holdings Limited – Sponsored ADR (NASDAQ:CHA – Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $10.20 and last traded at $10.18, with a volume of 509162 shares traded. The stock had previously closed at $10.72.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on CHA. Jefferies Financial Group started coverage on Chagee in a research note on Wednesday, January 7th. They set a “hold” rating and a $14.00 target price for the company. Zacks Research upgraded shares of Chagee from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Wall Street Zen raised shares of Chagee from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. JPMorgan Chase & Co. assumed coverage on Chagee in a research report on Friday, November 14th. They set an “underweight” rating and a $14.20 price objective for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Chagee in a research report on Monday, December 29th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Chagee presently has a consensus rating of “Hold” and a consensus target price of $30.06.
Read Our Latest Research Report on CHA
Chagee Price Performance
The firm has a market cap of $1.89 billion and a price-to-earnings ratio of 11.72. The business has a 50-day moving average of $12.45 and a 200-day moving average of $15.90.
Chagee (NASDAQ:CHA – Get Free Report) last posted its quarterly earnings results on Friday, November 28th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The business had revenue of $450.67 million during the quarter, compared to analysts’ expectations of $458.31 million.
Chagee Announces Dividend
The company 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 dividend payout ratio is 98.86%.
Hedge Funds Weigh In On Chagee
Institutional investors have recently bought and sold shares of the business. Taikang Asset Management Hong Kong Co Ltd acquired a new position in shares of Chagee during the 2nd quarter worth approximately $1,828,000. Ovata Capital Management Ltd bought a new position in Chagee during the second quarter worth $587,000. Barings LLC bought a new position in Chagee during the second quarter worth $11,302,000. Long Corridor Asset Management Ltd bought a new position in shares of Chagee in the second quarter valued at about $3,264,000. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Chagee during the 2nd quarter worth about $11,034,000.
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.