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

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

Chagee Trading Down 0.1%

Shares of NASDAQ:CHA opened at $14.58 on Friday. The stock’s fifty day moving average price is $15.60. Chagee has a 1 year low of $13.04 and a 1 year high of $41.80. The stock has a market capitalization of $2.68 billion and a price-to-earnings ratio of 16.57.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new position in Chagee during the 2nd quarter worth $26,000. Quantbot Technologies LP acquired a new stake in shares of Chagee in the third quarter valued at about $34,000. Ovata Capital Management Ltd increased its stake in shares of Chagee by 22.2% in the third quarter. Ovata Capital Management Ltd now owns 27,500 shares of the company’s stock worth $455,000 after purchasing an additional 5,000 shares during the period. Federated Hermes Inc. acquired a new position in shares of Chagee during the 2nd quarter worth about $172,000. Finally, FACTORIAL MANAGEMENT Ltd bought a new stake in Chagee during the 2nd quarter valued at approximately $178,000.

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.