Chagee (NASDAQ:CHA) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) saw strong trading volume on Monday . 857,837 shares changed hands during trading, a decline of 24% from the previous session’s volume of 1,123,579 shares.The stock last traded at $11.9510 and had previously closed at $11.90.

Analyst Ratings Changes

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

Chagee Stock Performance

The stock’s 50-day simple moving average is $14.36 and its two-hundred day simple moving average is $19.05. The stock has a market cap of $2.14 billion and a price-to-earnings ratio of 13.27.

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

Chagee Dividend Announcement

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

Hedge Funds Weigh In On Chagee

Several large investors have recently bought and sold shares of the stock. Taikang Asset Management Hong Kong Co Ltd acquired a new stake in Chagee during the second quarter worth about $1,828,000. Ovata Capital Management Ltd bought a new stake in shares of Chagee in the 2nd quarter worth approximately $587,000. Barings LLC bought a new stake in shares of Chagee during the second quarter valued at approximately $11,302,000. Matthews International Capital Management LLC acquired a new position in shares of Chagee in the second quarter valued at $1,401,000. Finally, Long Corridor Asset Management Ltd acquired a new position in shares of Chagee in the second quarter valued at $3,264,000.

Chagee Company Profile

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.