Chagee (NASDAQ:CHA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Chagee (NASDAQ:CHA) from a buy rating to a strong-buy rating in a research note issued to investors on Sunday,Wall Street Zen reports.

CHA has been the topic of several other reports. The Goldman Sachs Group assumed coverage on Chagee in a research note on Sunday, June 21st. They set a “neutral” rating and a $13.60 price objective on the stock. Weiss Ratings lowered Chagee from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $13.82.

Chagee Price Performance

Shares of NASDAQ:CHA opened at $11.42 on Friday. The company has a market capitalization of $2.10 billion, a P/E ratio of 11.31 and a beta of 1.48. Chagee has a 1-year low of $8.98 and a 1-year high of $17.66. The firm’s 50 day simple moving average is $11.23 and its two-hundred day simple moving average is $11.00.

Chagee (NASDAQ:CHA) last posted its quarterly earnings results on Friday, August 28th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.04. Chagee had a return on equity of 16.43% and a net margin of 10.23%.The business had revenue of $502.59 million during the quarter. On average, sell-side analysts anticipate that Chagee will post 1.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHA. Caitong International Asset Management Co. Ltd increased its holdings in shares of Chagee by 5,007.9% during the 4th 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. Virtu Financial LLC lifted its stake in shares of Chagee by 355.9% in the 4th quarter. Virtu Financial LLC now owns 54,304 shares of the company’s stock valued at $632,000 after purchasing an additional 42,393 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Chagee during the first quarter worth $427,000. Bank of America Corp DE grew its position in Chagee by 5,266.8% during the first quarter. Bank of America Corp DE now owns 50,502 shares of the company’s stock valued at $470,000 after buying an additional 49,561 shares during the period. Finally, Empowered Funds LLC acquired a new stake in Chagee during the first quarter valued at $1,211,000.

Chagee Company Profile

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.