Shares of Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA – Get Free Report) passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $11.75 and traded as high as $12.11. Chagee shares last traded at $12.02, with a volume of 414,309 shares.
Analysts Set New Price Targets
A number of equities research analysts have commented on the stock. Jefferies Financial Group raised shares of Chagee from a “hold” rating to a “buy” rating and lifted their target price for the stock from $11.80 to $14.90 in a research report on Tuesday, October 20th. Wall Street Zen upgraded Chagee from a “buy” rating to a “strong-buy” rating in a research report on Sunday, October 4th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Chagee in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.00.
Get Our Latest Stock Report on Chagee
Chagee Price Performance
The stock has a market cap of $2.21 billion, a P/E ratio of 11.93 and a beta of 1.48. The stock’s 50 day simple moving average is $11.77 and its two-hundred day simple moving average is $11.15.
Chagee (NASDAQ:CHA – Get Free Report) last issued its quarterly earnings data on Friday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. The company had revenue of $502.59 million during the quarter. Chagee had a return on equity of 16.43% and a net margin of 10.23%. As a group, analysts forecast that Chagee Holdings Limited – Sponsored ADR will post 1.31 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its holdings in shares of Chagee by 5,266.8% in the first 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 in the last quarter. Empowered Funds LLC acquired a new position in Chagee during the first quarter valued at $1,211,000. Renaissance Technologies LLC acquired a new stake in shares of Chagee in the first quarter worth $2,511,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Chagee in the first quarter worth $427,000.
Chagee Company Profile
Chagee, also known as Bawang Tea Ji, is a tea beverage company that operates a network of branded stores serving freshly prepared tea-based drinks. Its menu is centered on modern interpretations of traditional Asian tea, including tea lattes, brewed teas and other specialty beverages, as well as complementary food and refreshment products.
Founded in 2017 in China, Chagee has expanded through a combination of company-operated and franchised locations. The company primarily serves customers in China and has also developed an international presence in markets including Malaysia, Singapore, Thailand and Indonesia.
Chagee is led by founder and Chief Executive Officer Zhang Junjie.
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