Chagee Holdings Limited – Sponsored ADR (CHA) – What Are Investment Firms Thinking About This Stock?

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) has been given a consensus recommendation of “Hold” by the seven ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $14.00.

Several analysts have recently weighed in on the company. Jefferies Financial Group upgraded Chagee from a “hold” rating to a “buy” rating and upped their price objective for the company from $11.80 to $14.90 in a report on Tuesday, October 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chagee in a research note on Wednesday, October 28th. Finally, Wall Street Zen raised shares of Chagee from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 4th.

Institutional Investors Weigh In On Chagee

Several hedge funds have recently modified their holdings of CHA. Y Intercept Hong Kong Ltd purchased a new position in Chagee in the 1st quarter worth about $427,000. Bank of America Corp DE raised its holdings in shares of 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 acquiring an additional 49,561 shares during the period. Empowered Funds LLC purchased a new stake in shares of Chagee in the 1st quarter valued at approximately $1,211,000. Finally, Renaissance Technologies LLC acquired a new position in Chagee in the 1st quarter worth approximately $2,511,000.

Chagee Trading Down 0.5%

Shares of NASDAQ:CHA opened at $12.60 on Wednesday. The company has a 50 day moving average of $11.85 and a 200-day moving average of $11.15. The firm has a market cap of $2.31 billion, a P/E ratio of 12.48 and a beta of 1.31. Chagee has a twelve month low of $8.98 and a twelve month high of $16.56.

Chagee (NASDAQ:CHA) last released 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. The firm 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%. Equities research analysts forecast that Chagee will post 1.31 EPS for the current year.

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.