Chagee (NASDAQ:CHA) Cut to Sell at Wall Street Zen

Chagee (NASDAQ:CHA) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other brokerages have also issued reports on CHA. Weiss Ratings reiterated a “sell (d)” rating on shares of Chagee in a research report on Monday. Macquarie began coverage on shares of Chagee in a report on Friday, September 5th. They set a “neutral” rating and a $19.00 target price for the company. Finally, JPMorgan Chase & Co. began coverage on Chagee in a research report on Friday, November 14th. They set an “underweight” rating and a $14.20 price objective for the company. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $32.73.

Chagee Stock Down 0.1%

Shares of NASDAQ CHA opened at $14.58 on Friday. The company has a market capitalization of $2.68 billion and a PE ratio of 16.57. Chagee has a 52-week low of $13.04 and a 52-week high of $41.80. The stock has a 50-day simple moving average of $15.60.

Chagee (NASDAQ:CHA) last issued its quarterly earnings data on Friday, November 28th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The company had revenue of $450.67 million during the quarter, compared to analysts’ expectations of $458.31 million.

Hedge Funds Weigh In On Chagee

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new stake in Chagee during the 2nd quarter valued at $26,000. Quantbot Technologies LP purchased a new stake in Chagee in the 3rd quarter worth about $34,000. Federated Hermes Inc. acquired a new stake in Chagee during the 2nd quarter worth about $172,000. FACTORIAL MANAGEMENT Ltd purchased a new position in Chagee during the 2nd quarter valued at about $178,000. Finally, Polymer Capital Management HK LTD acquired a new position in shares of Chagee in the 3rd quarter valued at about $182,000.

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.