Zacks Research Upgrades Chagee (NASDAQ:CHA) to Hold

Chagee (NASDAQ:CHA) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the stock. CLSA started coverage on shares of Chagee in a research note on Sunday. They issued a “hold” rating and a $10.00 price objective for the company. Morgan Stanley restated an “overweight” rating and issued a $15.50 price objective on shares of Chagee in a research note on Friday. JPMorgan Chase & Co. upgraded shares of Chagee from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $11.50 to $16.00 in a research note on Thursday, April 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Chagee in a research note on Friday, March 27th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Chagee currently has a consensus rating of “Hold” and a consensus price target of $25.03.

Chagee Stock Performance

Shares of CHA stock opened at $12.75 on Monday. Chagee has a 52-week low of $8.98 and a 52-week high of $35.42. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 18.21 and a beta of 1.73. The firm has a fifty day moving average of $10.35 and a 200-day moving average of $11.60.

Institutional Investors Weigh In On Chagee

Large investors have recently made changes to their positions in the company. Schroder Investment Management Group bought a new stake in shares of Chagee in the 3rd quarter worth about $46,150,000. Athos Capital Ltd grew its holdings in shares of Chagee by 7.1% in the 3rd quarter. Athos Capital Ltd now owns 174,332 shares of the company’s stock worth $2,885,000 after purchasing an additional 11,532 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Chagee in the 3rd quarter worth about $34,000. JPMorgan Chase & Co. bought a new stake in shares of Chagee in the 2nd quarter worth about $26,000. Finally, Bank of America Corp DE grew its holdings in shares of Chagee by 5,266.8% in the 1st quarter. Bank of America Corp DE now owns 50,502 shares of the company’s stock worth $470,000 after purchasing an additional 49,561 shares during the last quarter.

About Chagee

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.