Chagee (NASDAQ:CHA) Posts Earnings Results

Chagee (NASDAQ:CHA) issued its quarterly earnings results on Tuesday. The company reported $0.07 EPS for the quarter, FiscalAI reports. The firm had revenue of $425.15 million for the quarter.

Chagee Stock Performance

Shares of NASDAQ:CHA opened at $9.61 on Tuesday. The firm’s 50 day simple moving average is $10.91 and its 200-day simple moving average is $13.42. Chagee has a one year low of $9.51 and a one year high of $41.80. The firm has a market cap of $1.76 billion and a PE ratio of 10.92.

Wall Street Analysts Forecast Growth

CHA has been the subject of several analyst reports. JPMorgan Chase & Co. raised shares of Chagee from an “underweight” rating to a “neutral” rating and decreased their price objective for the stock from $12.40 to $11.50 in a research note on Friday, February 13th. Zacks Research upgraded Chagee from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings reissued a “sell (d)” rating on shares of Chagee in a research note on Friday. Jefferies Financial Group began coverage on Chagee in a report on Wednesday, January 7th. They set a “hold” rating and a $14.00 price objective for the company. Finally, Wall Street Zen raised Chagee from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $29.67.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CHA. Taikang Asset Management Hong Kong Co Ltd purchased a new stake in shares of Chagee in the 2nd quarter worth $1,828,000. Schroder Investment Management Group bought a new stake in shares of Chagee in the third quarter valued at about $46,150,000. Norges Bank bought a new stake in shares of Chagee in the second quarter valued at about $5,050,000. Marshall Wace LLP purchased a new stake in Chagee in the second quarter worth about $13,764,000. Finally, Rakuten Investment Management Inc. bought a new position in Chagee during the 3rd quarter worth about $931,000.

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.