Chagee (NASDAQ:CHA) Lowered to Sell Rating by Wall Street Zen

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

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

Chagee Stock Down 0.1%

NASDAQ CHA opened at $14.58 on Friday. The company’s 50-day moving average price is $15.60. Chagee has a twelve month low of $13.04 and a twelve month high of $41.80. The stock has a market capitalization of $2.68 billion and a P/E ratio of 16.57.

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

Institutional Investors Weigh In On Chagee

Several institutional investors have recently added to or reduced their stakes in CHA. Schroder Investment Management Group bought a new stake in Chagee during the 3rd quarter valued at approximately $46,150,000. UBS Group AG lifted its stake in shares of Chagee by 212.5% in the 3rd quarter. UBS Group AG now owns 984,755 shares of the company’s stock valued at $16,298,000 after purchasing an additional 669,583 shares during the period. Marshall Wace LLP bought a new stake in shares of Chagee during the second quarter valued at approximately $13,764,000. Barings LLC purchased a new stake in Chagee in the second quarter worth $11,302,000. Finally, Allianz Asset Management GmbH bought a new position in Chagee in the second quarter worth $11,034,000.

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.