Chagee (NASDAQ:CHA) Announces Quarterly Earnings Results

Chagee (NASDAQ:CHA) posted its quarterly earnings results on Friday. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07), Zacks reports.

Chagee Stock Performance

NASDAQ CHA traded up $0.96 on Friday, hitting $15.09. The stock had a trading volume of 338,588 shares, compared to its average volume of 1,122,859. The firm’s 50-day simple moving average is $15.81. The stock has a market cap of $2.77 billion and a PE ratio of 25.07. Chagee has a one year low of $13.04 and a one year high of $41.80.

Wall Street Analyst Weigh In

CHA has been the topic of a number of recent research reports. JPMorgan Chase & Co. started coverage on shares of Chagee in a research report on Friday, November 14th. They issued an “underweight” rating and a $14.20 price target on the stock. Macquarie began coverage on Chagee in a research note on Friday, September 5th. They issued a “neutral” rating and a $19.00 target price for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chagee in a report on Tuesday. Finally, Wall Street Zen downgraded Chagee from a “buy” rating to a “hold” rating in a report on Sunday, September 7th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.73.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC acquired a new position in shares of Chagee during the second quarter valued at $232,000. JPMorgan Chase & Co. bought a new position in shares of Chagee in the second quarter valued at approximately $26,000. Russell Investments Group Ltd. acquired a new position in shares of Chagee during the second quarter valued at approximately $1,226,000. Walleye Capital LLC acquired a new stake in Chagee in the second quarter worth approximately $587,000. Finally, Federated Hermes Inc. bought a new position in Chagee during the second quarter valued at about $172,000.

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.