Chagee (NASDAQ:CHA) Stock Rating Upgraded by Zacks Research

Chagee (NASDAQ:CHA) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chagee in a research report on Friday, March 27th. JPMorgan Chase & Co. raised Chagee from a “neutral” rating to an “overweight” rating and raised their target price for the company from $11.50 to $16.00 in a research report on Thursday, April 2nd. CLSA assumed coverage on Chagee in a research report on Sunday. They set a “hold” rating and a $10.00 target price for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $15.50 target price on shares of Chagee in a research report on Friday. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.03.

Chagee Price Performance

Shares of Chagee stock opened at $12.75 on Monday. Chagee has a 1 year low of $8.98 and a 1 year high of $35.42. The firm has a market cap of $2.34 billion, a PE ratio of 18.21 and a beta of 1.73. The stock has a fifty day moving average price of $10.35 and a 200-day moving average price of $11.60.

Institutional Investors Weigh In On Chagee

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in Chagee in the 2nd quarter worth about $26,000. Quantbot Technologies LP purchased a new stake in Chagee in the 3rd quarter worth about $34,000. Caitong International Asset Management Co. Ltd increased its holdings in Chagee by 3,141.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,885 shares of the company’s stock worth $34,000 after acquiring an additional 2,796 shares during the last quarter. Geode Capital Management LLC purchased a new stake in Chagee in the 4th quarter worth about $147,000. Finally, Federated Hermes Inc. purchased a new stake in Chagee in the 2nd quarter worth about $172,000.

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.