Chagee (NASDAQ:CHA) Stock Rating Lowered by Zacks Research

Chagee (NASDAQ:CHA) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Chagee in a report on Friday, March 27th. JPMorgan Chase & Co. raised Chagee from an “underweight” rating to a “neutral” rating and reduced their price objective for the stock from $12.40 to $11.50 in a research report on Friday, February 13th. Jefferies Financial Group started 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. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.31.

Chagee Stock Down 1.6%

Shares of CHA stock opened at $9.16 on Tuesday. Chagee has a 12-month low of $8.98 and a 12-month high of $41.80. The firm has a fifty day moving average of $10.80 and a 200-day moving average of $13.34. The company has a market capitalization of $1.68 billion and a price-to-earnings ratio of 10.18.

Institutional Investors Weigh In On Chagee

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. bought a new position in shares of Chagee in the 2nd quarter valued at about $26,000. Quantbot Technologies LP bought a new stake in Chagee during the third quarter worth about $34,000. Caitong International Asset Management Co. Ltd boosted its position in Chagee by 3,141.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,885 shares of the company’s stock valued at $34,000 after purchasing an additional 2,796 shares during the last quarter. Geode Capital Management LLC bought a new position in Chagee in the fourth quarter valued at approximately $147,000. Finally, Federated Hermes Inc. bought a new position in Chagee in the second quarter valued at approximately $172,000.

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.