Chagee (NASDAQ:CHA) Upgraded by The Goldman Sachs Group to Hold Rating

The Goldman Sachs Group upgraded shares of Chagee (NASDAQ:CHA) to a hold rating in a research note released on Sunday,Zacks.com reports.

CHA has been the topic of a number of other reports. CLSA started coverage on shares of Chagee in a report on Sunday, May 31st. They issued a “hold” rating and a $10.00 price target on the stock. Wall Street Zen raised shares of Chagee from a “hold” rating to a “strong-buy” rating in a research report on Saturday, June 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chagee in a research note on Friday, March 27th. Zacks Research raised shares of Chagee from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Morgan Stanley restated an “overweight” rating and set a $15.50 price target on shares of Chagee in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $14.68.

Chagee Price Performance

Shares of NASDAQ:CHA opened at $11.22 on Friday. Chagee has a 1 year low of $8.98 and a 1 year high of $29.10. The company has a market capitalization of $2.06 billion, a PE ratio of 16.03 and a beta of 1.72. The business has a fifty day moving average price of $10.87 and a two-hundred day moving average price of $11.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Schroder Investment Management Group bought a new position in shares of Chagee in the 3rd quarter worth $46,150,000. Fosun International Ltd lifted its holdings in shares of Chagee by 19,295.0% during the 4th quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock worth $86,610,000 after acquiring an additional 7,408,691 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Chagee by 2,333.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,208 shares of the company’s stock worth $401,000 after acquiring an additional 23,213 shares during the last quarter. Ovata Capital Management Ltd grew its position in 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 acquiring an additional 5,000 shares in the last quarter. Finally, Athos Capital Ltd grew its position in Chagee by 7.1% in the third quarter. Athos Capital Ltd now owns 174,332 shares of the company’s stock worth $2,885,000 after acquiring an additional 11,532 shares in the last quarter.

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. “Quality, Health, and Convenience” is the guiding principle of how we make our products.