Chagee (NASDAQ:CHA) Cut to “Sell” at Wall Street Zen

Chagee (NASDAQ:CHA) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other equities analysts also recently weighed in on CHA. Weiss Ratings restated a “sell (d)” rating on shares of Chagee in a report on Monday. Macquarie began coverage on shares of Chagee in a research note on Friday, September 5th. They set a “neutral” rating and a $19.00 price objective for the company. Finally, JPMorgan Chase & Co. began coverage on shares of Chagee in a research note on Friday, November 14th. They issued an “underweight” rating and a $14.20 target price on the stock. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $32.73.

Chagee Stock Down 0.1%

CHA stock opened at $14.58 on Friday. The stock has a market capitalization of $2.68 billion and a price-to-earnings ratio of 16.57. The firm’s 50 day simple moving average is $15.60. Chagee has a 52-week low of $13.04 and a 52-week high of $41.80.

Chagee (NASDAQ:CHA) last posted its quarterly earnings data on Friday, November 28th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The company had revenue of $450.67 million during the quarter, compared to the consensus estimate of $458.31 million.

Institutional Trading of Chagee

A number of large investors have recently made changes to their positions in CHA. Schroder Investment Management Group purchased a new position in shares of Chagee during the third quarter valued at approximately $46,150,000. UBS Group AG grew its position in Chagee by 212.5% in the 3rd quarter. UBS Group AG now owns 984,755 shares of the company’s stock worth $16,298,000 after purchasing an additional 669,583 shares during the period. Marshall Wace LLP purchased a new stake in Chagee during the 2nd quarter valued at $13,764,000. Barings LLC bought a new position in shares of Chagee during the 2nd quarter valued at $11,302,000. Finally, Allianz Asset Management GmbH purchased a new position in shares of Chagee in the 2nd quarter worth $11,034,000.

Chagee Company Profile

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.