Chagee (NASDAQ:CHA) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Chagee (NASDAQ:CHA) from a strong sell rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

Several other equities analysts have also weighed in on the company. JPMorgan Chase & Co. upgraded Chagee from a “neutral” rating to an “overweight” rating and raised their target price for the company from $11.50 to $16.00 in a report on Thursday, April 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Chagee in a research note on Friday, March 27th. CLSA initiated coverage on Chagee in a research report on Sunday. They set a “hold” rating and a $10.00 price objective for the company. Finally, Morgan Stanley reissued an “overweight” rating and set a $15.50 price objective on shares of Chagee in a research report on Friday. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.03.

Chagee Price Performance

NASDAQ CHA opened at $12.75 on Monday. Chagee has a fifty-two week low of $8.98 and a fifty-two week high of $35.42. The stock’s 50-day moving average is $10.35 and its two-hundred day moving average is $11.60. The firm has a market cap of $2.34 billion, a P/E ratio of 18.21 and a beta of 1.73.

Hedge Funds Weigh In On Chagee

Several large investors have recently made changes to their positions in CHA. JPMorgan Chase & Co. acquired a new position in shares of Chagee during the 2nd quarter worth about $26,000. Quantbot Technologies LP acquired a new position in shares of Chagee during the 3rd quarter worth about $34,000. Caitong International Asset Management Co. Ltd increased its stake 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 acquiring an additional 2,796 shares during the period. Geode Capital Management LLC bought a new position in Chagee during the fourth quarter valued at about $147,000. Finally, Federated Hermes Inc. bought a new position in Chagee during the second quarter valued at about $172,000.

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.