Chagee (NASDAQ:CHA) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Chagee (NASDAQ:CHA) from a hold rating to a sell rating in a research note published on Saturday morning.

A number of other equities analysts also recently issued reports on CHA. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chagee in a report on Monday, December 1st. Macquarie began coverage on shares of Chagee in a report on Friday, September 5th. They issued a “neutral” rating and a $19.00 target price for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of Chagee in a research note on Friday, November 14th. They set an “underweight” rating and a $14.20 price target on the stock. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Chagee currently has an average rating of “Hold” and a consensus price target of $32.73.

Chagee Stock Down 0.1%

NASDAQ:CHA opened at $14.58 on Friday. Chagee has a 12 month low of $13.04 and a 12 month high of $41.80. The stock has a market capitalization of $2.68 billion and a price-to-earnings ratio of 16.57. The company has a fifty day simple moving average of $15.60.

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

Chagee Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, December 8th.

Institutional Trading of Chagee

Hedge funds have recently added to or reduced their stakes in the business. Ovata Capital Management Ltd grew its holdings in shares of Chagee by 22.2% during the 3rd quarter. Ovata Capital Management Ltd now owns 27,500 shares of the company’s stock worth $455,000 after purchasing an additional 5,000 shares during the period. XTX Topco Ltd acquired a new position in Chagee during the 3rd quarter worth approximately $1,159,000. Polymer Capital Management HK LTD purchased a new position in Chagee in the 3rd quarter worth approximately $182,000. Virtu Financial LLC acquired a new stake in Chagee in the third quarter valued at approximately $197,000. Finally, UBS Group AG raised its stake 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 purchasing an additional 669,583 shares during the period.

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.