Chagee (NASDAQ:CHA) Stock Rating Upgraded by Wall Street Zen

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

CHA has been the subject of a number of other research reports. Weiss Ratings lowered 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 started coverage on shares of Chagee in a report on Sunday, June 21st. They set a “neutral” rating and a $13.60 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.82.

Chagee Stock Up 1.9%

NASDAQ:CHA opened at $11.19 on Friday. The stock has a market cap of $2.05 billion, a PE ratio of 11.08 and a beta of 1.48. The business’s 50-day simple moving average is $11.23 and its two-hundred day simple moving average is $11.00. Chagee has a 52 week low of $8.98 and a 52 week high of $17.66.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CHA. Caitong International Asset Management Co. Ltd raised its position in Chagee by 5,007.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,546 shares of the company’s stock valued at $53,000 after purchasing an additional 4,457 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Chagee in the first quarter worth $427,000. Bank of America Corp DE boosted its stake in 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. Virtu Financial LLC raised its stake in shares of Chagee by 355.9% in the fourth quarter. Virtu Financial LLC now owns 54,304 shares of the company’s stock valued at $632,000 after acquiring an additional 42,393 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Chagee in the 1st quarter worth about $1,211,000.

About Chagee

Chagee, also known as BaWangChaJi (霸王茶姬), is a Chinese tea beverage company that operates a chain of cafés and tea shops. Founded in 2017, the company focuses on freshly prepared drinks based on traditional Asian tea varieties, combining tea culture with modern café-style service and branding.

Its product range primarily includes tea-based beverages such as milk tea, pure tea and specialty tea lattes made with varieties including jasmine green tea, oolong tea and black tea. Chagee also offers selected seasonal and complementary beverages, with its menu and product development centered on brewed tea rather than the tapioca-focused drinks commonly associated with traditional bubble tea.

Chagee serves customers through a combination of company-operated and franchised locations.