Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) Short Interest Update

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 3,190,000 shares, a growth of 41.8% from the September 30th total of 2,250,000 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is currently 3.1 days. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is currently 3.1 days. Currently, 1.7% of the shares of the company are sold short.

Hedge Funds Weigh In On Chagee

A number of hedge funds have recently bought and sold shares of the business. Marshall Wace LLP purchased a new position in Chagee during the second quarter worth approximately $13,764,000. Barings LLC purchased a new position in Chagee during the second quarter worth approximately $11,302,000. Allianz Asset Management GmbH purchased a new position in shares of Chagee in the second quarter valued at approximately $11,034,000. Norges Bank purchased a new position in shares of Chagee in the second quarter valued at approximately $5,050,000. Finally, MY.Alpha Management HK Advisors Ltd purchased a new position in shares of Chagee in the second quarter valued at approximately $4,632,000.

Wall Street Analyst Weigh In

CHA has been the topic of a number of research reports. Wall Street Zen lowered Chagee from a “buy” rating to a “hold” rating in a report on Sunday, September 7th. Macquarie initiated coverage on Chagee in a report on Friday, September 5th. They issued a “neutral” rating and a $19.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Chagee in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.44.

Chagee Stock Performance

NASDAQ:CHA traded down $0.34 during trading hours on Tuesday, reaching $14.88. The company had a trading volume of 453,919 shares, compared to its average volume of 1,182,208. The company has a market capitalization of $2.73 billion and a price-to-earnings ratio of 25.22. The stock has a 50 day moving average price of $17.24. Chagee has a 1-year low of $14.82 and a 1-year high of $41.80.

Chagee (NASDAQ:CHA) last issued its quarterly earnings results on Friday, August 29th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The business had revenue of $465.11 million during the quarter, compared to the consensus estimate of $484.14 million.

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.