Chagee (NASDAQ:CHA) Upgraded to Hold at Wall Street Zen

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

Other research analysts have also recently issued research reports about the stock. 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 for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chagee in a research note on Monday, December 8th. Finally, Macquarie started coverage on Chagee in a report on Friday, September 5th. They set a “neutral” rating and a $19.00 target price for the company. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $32.73.

Chagee Trading Down 0.4%

CHA stock opened at $13.65 on Friday. The firm has a market cap of $2.51 billion and a P/E ratio of 15.51. Chagee has a 12-month low of $12.99 and a 12-month high of $41.80. The stock’s 50 day simple moving average is $15.28 and its 200 day simple moving average is $20.62.

Chagee (NASDAQ:CHA) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $458.31 million.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CHA. Schroder Investment Management Group acquired a new stake in Chagee in the third quarter valued at $46,150,000. UBS Group AG boosted its holdings in shares of Chagee by 212.5% during the third quarter. UBS Group AG now owns 984,755 shares of the company’s stock valued at $16,298,000 after acquiring an additional 669,583 shares during the period. Marshall Wace LLP bought a new position in shares of Chagee in the second quarter valued at approximately $13,764,000. Barings LLC purchased a new stake in shares of Chagee during the second quarter valued at $11,302,000. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Chagee in the second quarter worth approximately $11,034,000.

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.