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

Chagee (NASDAQ:CHA) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Sunday.

A number of other research firms also recently weighed in on CHA. The Goldman Sachs Group started coverage on Chagee in a report on Sunday, June 21st. They set a “neutral” rating and a $13.60 target price on the stock. Zacks Research raised Chagee from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. JPMorgan Chase & Co. upgraded shares of Chagee from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $11.50 to $16.00 in a report on Thursday, April 2nd. CLSA began coverage on shares of Chagee in a research note on Sunday, May 31st. They issued a “hold” rating and a $10.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Chagee in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $14.68.

Chagee Price Performance

CHA stock traded down $0.01 during trading on Friday, reaching $11.00. The company had a trading volume of 468,863 shares, compared to its average volume of 657,432. Chagee has a 52 week low of $8.98 and a 52 week high of $28.05. The company has a market cap of $2.02 billion, a P/E ratio of 15.71 and a beta of 1.62. The business has a 50 day moving average of $11.14 and a 200 day moving average of $11.10.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CHA. JPMorgan Chase & Co. bought a new position in Chagee during the 2nd quarter valued at about $26,000. Quantbot Technologies LP purchased a new stake in Chagee in the third quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd grew its position in Chagee by 3,141.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,885 shares of the company’s stock worth $34,000 after purchasing an additional 2,796 shares during the period. Polymer Capital Management HK LTD raised its stake in Chagee by 39.1% during the 4th quarter. Polymer Capital Management HK LTD now owns 15,300 shares of the company’s stock valued at $178,000 after buying an additional 4,300 shares during the last quarter. Finally, Ovata Capital Management Ltd lifted 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 valued at $455,000 after buying an additional 5,000 shares during the period.

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. “Quality, Health, and Convenience” is the guiding principle of how we make our products.