Chagee (NASDAQ:CHA) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Chagee (NASDAQ:CHA) in a research report report published on Friday, Marketbeat reports. The brokerage issued an underweight rating on the stock.

A number of other equities analysts have also recently weighed in on CHA. Weiss Ratings reissued a “sell (d)” rating on shares of Chagee in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Chagee from a “buy” rating to a “hold” rating in a research note on Sunday, September 7th. Finally, Macquarie started coverage on shares of Chagee in a research note on Friday, September 5th. They issued a “neutral” rating and a $19.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.44.

Chagee Price Performance

Shares of NASDAQ:CHA traded down $0.60 during trading on Friday, reaching $14.72. The company had a trading volume of 668,543 shares, compared to its average volume of 717,181. The company has a fifty day moving average price of $16.38. The stock has a market cap of $2.70 billion and a PE ratio of 24.95. Chagee has a 12 month low of $14.24 and a 12 month high of $41.80.

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

Institutional Investors Weigh In On Chagee

Several institutional investors have recently added to or reduced their stakes in the company. LBP AM SA bought a new stake in Chagee in the 2nd quarter worth $1,619,000. Matthews International Capital Management LLC bought a new stake in shares of Chagee in the second quarter worth about $1,401,000. Franchise Capital Ltd purchased a new position in Chagee during the 2nd quarter valued at about $4,111,000. Allianz Asset Management GmbH bought a new position in Chagee during the 2nd quarter valued at approximately $11,034,000. Finally, FACTORIAL MANAGEMENT Ltd purchased a new stake in Chagee in the 2nd quarter worth approximately $178,000.

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.