Chagee (NASDAQ:CHA) Cut to Buy at Wall Street Zen

Chagee (NASDAQ:CHA - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Sunday.

CHA has been the subject of a number of other research reports. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Chagee in a research note on Wednesday, June 24th. JPMorgan Chase & Co. upgraded shares of Chagee from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $11.50 to $16.00 in a research report on Thursday, April 2nd. Zacks Research raised shares of Chagee from a "strong sell" rating to a "hold" rating in a research note on Monday, June 1st. CLSA started coverage on shares of Chagee in a research report on Sunday, May 31st. They set a "hold" rating and a $10.00 price target for the company. Finally, The Goldman Sachs Group assumed coverage on Chagee in a research note on Sunday, June 21st. They set a "neutral" rating and a $13.60 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given 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 $14.68.

Chagee Stock Performance

CHA traded down $0.01 during midday trading on Friday, hitting $11.00. The stock had a trading volume of 468,863 shares, compared to its average volume of 657,432. Chagee has a 1 year low of $8.98 and a 1 year high of $28.05. The business has a fifty day moving average of $11.14 and a 200 day moving average of $11.10. The company has a market cap of $2.02 billion, a P/E ratio of 15.71 and a beta of 1.62.

Institutional Trading of Chagee

A number of institutional investors have recently modified their holdings of the company. Fosun International Ltd increased its holdings in Chagee by 19,295.0% during the 4th quarter. Fosun International Ltd now owns 7,447,088 shares of the company's stock valued at $86,610,000 after purchasing an additional 7,408,691 shares during the period. UBS Group AG lifted its holdings in Chagee by 212.5% in the 3rd quarter. UBS Group AG now owns 984,755 shares of the company's stock worth $16,298,000 after buying an additional 669,583 shares during the period. Marshall Wace LLP bought a new stake in shares of Chagee in the 4th quarter worth approximately $5,407,000. Jane Street Group LLC increased its stake in shares of Chagee by 2,237.0% during the fourth quarter. Jane Street Group LLC now owns 439,640 shares of the company's stock valued at $5,113,000 after buying an additional 420,828 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Chagee during the first quarter valued at approximately $2,511,000.

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.

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