Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) Stock Now Rated “Hold” by Wall Street Analysts

Shares of Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) have earned a consensus rating of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $14.00.

CHA has been the subject of a number of research analyst reports. Wall Street Zen upgraded Chagee from a “buy” rating to a “strong-buy” rating in a report on Sunday, October 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Chagee in a report on Wednesday, October 28th. Finally, Jefferies Financial Group upgraded shares of Chagee from a “hold” rating to a “buy” rating and raised their price target for the stock from $11.80 to $14.90 in a research report on Tuesday, October 20th.

Institutional Trading of Chagee

Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new stake in Chagee in the first quarter valued at $2,511,000. Empowered Funds LLC bought a new stake in shares of Chagee during the first quarter valued at approximately $1,211,000. Bank of America Corp DE boosted its position in shares of Chagee by 5,266.8% during the first quarter. Bank of America Corp DE now owns 50,502 shares of the company’s stock worth $470,000 after buying an additional 49,561 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Chagee during the first quarter worth approximately $427,000.

Chagee Stock Performance

NASDAQ:CHA opened at $12.60 on Wednesday. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 12.48 and a beta of 1.31. Chagee has a one year low of $8.98 and a one year high of $16.56. The stock has a 50-day simple moving average of $11.85 and a 200 day simple moving average of $11.15.

Chagee (NASDAQ:CHA) last announced its quarterly earnings data on Friday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.04. Chagee had a return on equity of 16.43% and a net margin of 10.23%. The firm had revenue of $502.59 million for the quarter. On average, equities research analysts forecast that Chagee will post 1.31 EPS for the current fiscal year.

Chagee Company Profile

Chagee, also known as Bawang Tea Ji, is a tea beverage company that operates a network of branded stores serving freshly prepared tea-based drinks. Its menu is centered on modern interpretations of traditional Asian tea, including tea lattes, brewed teas and other specialty beverages, as well as complementary food and refreshment products.

Founded in 2017 in China, Chagee has expanded through a combination of company-operated and franchised locations. The company primarily serves customers in China and has also developed an international presence in markets including Malaysia, Singapore, Thailand and Indonesia.

Chagee is led by founder and Chief Executive Officer Zhang Junjie.