Chagee (NASDAQ:CHA) Earns Underweight Rating from Analysts at JPMorgan Chase & Co.

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

A number of other analysts also recently issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Chagee in a research report on Wednesday, October 8th. Macquarie assumed coverage on shares of Chagee in a research report on Friday, September 5th. They issued a “neutral” rating and a $19.00 price objective for the company. Finally, Wall Street Zen cut shares of Chagee from a “buy” rating to a “hold” rating in a report on Sunday, September 7th. Four 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 MarketBeat, Chagee currently has a consensus rating of “Hold” and a consensus target price of $36.44.

Chagee Trading Down 3.9%

Shares of Chagee stock opened at $14.72 on Friday. The business’s 50-day moving average price is $16.38. The firm has a market capitalization of $2.70 billion and a price-to-earnings ratio of 24.95. Chagee has a 52-week low of $14.24 and a 52-week high of $41.80.

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

Institutional Trading of Chagee

A number of hedge funds and other institutional investors have recently made changes to their positions in CHA. JPMorgan Chase & Co. acquired a new position in shares of Chagee during the second quarter valued at approximately $26,000. Quantbot Technologies LP acquired a new stake in Chagee in the 3rd quarter valued at about $34,000. Federated Hermes Inc. bought a new position in shares of Chagee during the 2nd quarter valued at about $172,000. FACTORIAL MANAGEMENT Ltd acquired a new position in shares of Chagee in the 2nd quarter worth approximately $178,000. Finally, Virtu Financial LLC acquired a new stake in Chagee during the third quarter valued at approximately $197,000.

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.