Chagee (NASDAQ:CHA) Trading 6.9% Higher – Should You Buy?

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) was up 6.9% on Tuesday . The stock traded as high as $12.15 and last traded at $12.4650. 156,127 shares traded hands during trading, a decline of 76% from the average session volume of 657,485 shares. The stock had previously closed at $11.66.

Wall Street Analysts Forecast Growth

CHA has been the subject of a number of recent research reports. Zacks Research raised Chagee from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Morgan Stanley reissued an “overweight” rating and set a $15.50 price target on shares of Chagee in a research note on Friday, May 29th. Weiss Ratings downgraded Chagee from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, July 30th. Wall Street Zen raised shares of Chagee from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 5th. Finally, The Goldman Sachs Group initiated coverage on shares of Chagee in a research report on Sunday, June 21st. They issued a “neutral” rating and a $13.60 price target for the company. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Chagee presently has a consensus rating of “Hold” and a consensus price target of $13.82.

Chagee Stock Down 1.1%

The stock has a 50 day moving average of $11.06 and a 200 day moving average of $10.88. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 12.33 and a beta of 1.60.

Chagee (NASDAQ:CHA) last released its earnings results on Friday, August 28th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. The business had revenue of $502.59 million during the quarter. Chagee had a net margin of 10.23% and a return on equity of 16.43%. As a group, sell-side analysts anticipate that Chagee Holdings Limited – Sponsored ADR will post 1.29 EPS for the current fiscal year.

Institutional Trading of Chagee

Institutional investors have recently bought and sold shares of the company. Empowered Funds LLC acquired a new stake in Chagee during the first quarter worth approximately $1,211,000. Renaissance Technologies LLC acquired a new position in Chagee in the first quarter valued at approximately $2,511,000. Fosun International Ltd boosted its holdings in shares of Chagee by 19,295.0% during the 4th quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock worth $86,610,000 after buying an additional 7,408,691 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Chagee during the 1st quarter worth approximately $427,000. Finally, Bank of America Corp DE increased its stake 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 valued at $470,000 after acquiring an additional 49,561 shares in the last quarter.

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.