Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) Receives $13.82 Average Target Price from Analysts

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) has earned a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $13.82.

CHA has been the subject of several recent analyst reports. CLSA began coverage on shares of Chagee in a research note on Sunday, May 31st. They issued a “hold” rating and a $10.00 target price for the company. Morgan Stanley restated an “overweight” rating and set a $15.50 price target on shares of Chagee in a report on Friday, May 29th. Weiss Ratings downgraded shares of Chagee from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, July 30th. The Goldman Sachs Group assumed coverage on shares of Chagee in a research note on Sunday, June 21st. They issued a “neutral” rating and a $13.60 price objective for the company. Finally, Zacks Research upgraded Chagee from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st.

Chagee Stock Up 1.7%

Shares of Chagee stock opened at $12.22 on Tuesday. Chagee has a 52 week low of $8.98 and a 52 week high of $17.70. The business has a 50 day moving average price of $11.23 and a 200-day moving average price of $10.96. The company has a market cap of $2.24 billion, a PE ratio of 12.10 and a beta of 1.60.

Chagee (NASDAQ:CHA) last announced its quarterly earnings results on Friday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.04. The business had revenue of $502.59 million during the quarter. Chagee had a return on equity of 16.43% and a net margin of 10.23%. As a group, research analysts anticipate that Chagee will post 1.31 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CHA. Fosun International Ltd increased its position in shares of Chagee by 19,295.0% during the 4th quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock valued at $86,610,000 after purchasing an additional 7,408,691 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Chagee in the 1st quarter worth about $2,511,000. Empowered Funds LLC bought a new position in Chagee during the first quarter valued at about $1,211,000. Virtu Financial LLC increased its holdings in Chagee by 355.9% during the fourth quarter. Virtu Financial LLC now owns 54,304 shares of the company’s stock worth $632,000 after buying an additional 42,393 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Chagee by 5,266.8% in the first quarter. Bank of America Corp DE now owns 50,502 shares of the company’s stock worth $470,000 after acquiring an additional 49,561 shares during the period.

About Chagee

Chagee Holding Limited operates the CHAGEE beverage brand, which specializes in freshly prepared tea drinks inspired by traditional Chinese tea culture. Its menu includes tea-based milk beverages, fruit tea and other drinks made with tea leaves, milk and related ingredients. The company positions CHAGEE as a premium, modern tea brand serving customers through branded retail locations.

Founded in 2017, Chagee has expanded its store network primarily through mainland China, while also serving customers in Southeast Asia.