Shares of Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA – Get Free Report) have been assigned a consensus rating of “Hold” from the seven analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $13.82.
CHA has been the subject of a number of research reports. Wall Street Zen upgraded Chagee from a “buy” rating to a “strong-buy” rating in a report on Sunday, October 4th. The Goldman Sachs Group assumed coverage on Chagee in a report on Sunday, June 21st. They set a “neutral” rating and a $13.60 price objective on the stock. Finally, Weiss Ratings downgraded Chagee from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, July 30th.
Check Out Our Latest Analysis on Chagee
Institutional Trading of Chagee
Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE boosted its stake in Chagee by 5,266.8% during the 1st quarter. Bank of America Corp DE now owns 50,502 shares of the company’s stock valued at $470,000 after purchasing an additional 49,561 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Chagee in the 1st quarter worth $1,211,000. Renaissance Technologies LLC purchased a new position in shares of Chagee in the first quarter worth $2,511,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Chagee in the first quarter worth $427,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of 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 in the last quarter.
Chagee Price Performance
Shares of Chagee stock traded down $0.14 during trading hours on Friday, hitting $12.30. 446,611 shares of the company’s stock traded hands, compared to its average volume of 833,267. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 12.18 and a beta of 1.48. Chagee has a 12-month low of $8.98 and a 12-month high of $17.66. The company has a fifty day simple moving average of $11.39 and a 200-day simple moving average of $11.09.
Chagee (NASDAQ:CHA – Get Free Report) last issued its earnings results on Friday, August 28th. The company reported $0.37 earnings per share for the quarter, topping 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 firm had revenue of $502.59 million during the quarter. On average, analysts forecast that Chagee will post 1.31 EPS for the current fiscal year.
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.
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