Chagee (NASDAQ:CHA) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Chagee (NASDAQ:CHA) from a buy rating to a strong-buy rating in a report issued on Saturday morning,Wall Street Zen reports.

A number of other research firms have also recently weighed in on CHA. Zacks Research upgraded Chagee from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $15.50 price objective on shares of Chagee in a report on Friday, May 29th. CLSA started coverage on Chagee in a research report on Sunday, May 31st. They set a “hold” rating and a $10.00 target price on the stock. Weiss Ratings lowered Chagee from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, July 30th. Finally, The Goldman Sachs Group started coverage on Chagee in a research report on Sunday, June 21st. They issued a “neutral” rating and a $13.60 price target for the company. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.82.

Chagee Trading Up 2.6%

CHA stock opened at $11.66 on Friday. The company’s 50-day moving average price is $11.05 and its 200 day moving average price is $10.84. Chagee has a 52 week low of $8.98 and a 52 week high of $18.46. The company has a market cap of $2.14 billion, a P/E ratio of 11.54 and a beta of 1.60.

Chagee (NASDAQ:CHA) last issued its earnings results on Friday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. Chagee had a net margin of 10.23% and a return on equity of 16.43%. The company had revenue of $502.59 million during the quarter. On average, equities research analysts expect that Chagee will post 1.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Fosun International Ltd lifted its stake in Chagee by 19,295.0% in the 4th quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock valued at $86,610,000 after buying an additional 7,408,691 shares in the last quarter. UBS Group AG raised its holdings in shares of Chagee by 212.5% in the third quarter. UBS Group AG now owns 984,755 shares of the company’s stock worth $16,298,000 after acquiring an additional 669,583 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Chagee in the fourth quarter worth $5,407,000. Jane Street Group LLC lifted its position in shares of Chagee by 2,237.0% in the fourth quarter. Jane Street Group LLC now owns 439,640 shares of the company’s stock valued at $5,113,000 after acquiring an additional 420,828 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Chagee during the first quarter valued at $2,511,000.

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