Chagee (NASDAQ:CHA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Chagee (NASDAQ:CHA) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

CHA has been the topic of a number of other research reports. The Goldman Sachs Group initiated coverage on Chagee in a research report on Sunday, June 21st. They set a “neutral” rating and a $13.60 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $15.50 price target on shares of Chagee in a report on Friday, May 29th. Weiss Ratings downgraded shares of Chagee from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, July 30th. Zacks Research upgraded shares of Chagee from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, CLSA assumed coverage on Chagee in a research report on Sunday, May 31st. They set a “hold” rating and a $10.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Chagee presently has a consensus rating of “Hold” and an average target price of $13.82.

Chagee Price Performance

Shares of CHA opened at $11.66 on Friday. The stock has a market cap of $2.14 billion, a P/E ratio of 11.54 and a beta of 1.60. The business’s fifty day moving average is $11.04 and its 200 day moving average is $10.86. Chagee has a 12-month low of $8.98 and a 12-month high of $18.46.

Chagee (NASDAQ:CHA) last announced its quarterly earnings results on Friday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.04. Chagee had a return on equity of 16.43% and a net margin of 10.23%.The business had revenue of $502.59 million during the quarter. On average, analysts expect that Chagee will post 1.29 EPS for the current year.

Institutional Trading of Chagee

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. bought a new position in shares of Chagee in the 2nd quarter worth about $26,000. Quantbot Technologies LP purchased a new stake in Chagee in the third quarter worth about $34,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Chagee by 3,141.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,885 shares of the company’s stock valued at $34,000 after purchasing an additional 2,796 shares in the last quarter. Polymer Capital Management HK LTD boosted its position in shares of Chagee by 39.1% in the 4th quarter. Polymer Capital Management HK LTD now owns 15,300 shares of the company’s stock worth $178,000 after purchasing an additional 4,300 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new stake in shares of Chagee in the 2nd quarter worth approximately $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. “Quality, Health, and Convenience” is the guiding principle of how we make our products.