Chagee (NASDAQ:CHA) Given Sell (D) Rating at Weiss Ratings

Key Points

• Chagee's stock received a "sell (D)" rating from Weiss Ratings, with several other analysts also providing mixed ratings.
• The company reported $0.05 EPS for the last quarter, which was lower than the analysts' consensus estimate of $0.09, along with revenue under expectations at $465.11 million.
• Chagee's current average rating is a "Moderate Buy", with a target price averaging $36.44, significantly higher than its recent trading price of $16.73.

Chagee (NASDAQ:CHA - Get Free Report)'s stock had its "sell (d)" rating restated by stock analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other analysts have also issued reports on the stock. Macquarie began coverage on shares of Chagee in a research report on Friday, September 5th. They set a "neutral" rating and a $19.00 price target on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Chagee in a research report on Thursday, June 19th. They set a "buy" rating and a $40.50 price target on the stock. Finally, Wall Street Zen lowered shares of Chagee from a "buy" rating to a "hold" rating in a research report on Sunday, September 7th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $36.44.

Chagee Stock Performance

NASDAQ:CHA traded up $0.47 during mid-day trading on Wednesday, reaching $16.73. 625,919 shares of the company's stock were exchanged, compared to its average volume of 808,484. Chagee has a one year low of $16.12 and a one year high of $41.80. The business's fifty day moving average is $19.28.

Chagee (NASDAQ:CHA - Get Free Report) last released its quarterly earnings results on Friday, August 29th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). The company had revenue of $465.11 million for the quarter, compared to analyst estimates of $484.14 million.

Institutional Trading of Chagee

Hedge funds and other institutional investors have recently bought and sold shares of the business. Matthews International Capital Management LLC bought a new stake in Chagee during the 2nd quarter valued at $1,401,000. LBP AM SA bought a new stake in Chagee during the 2nd quarter valued at $1,619,000. Franchise Capital Ltd bought a new stake in Chagee during the 2nd quarter valued at $4,111,000. Marshall Wace LLP bought a new stake in Chagee during the 2nd quarter valued at $13,764,000. Finally, Norges Bank bought a new stake in shares of Chagee in the 2nd quarter worth $5,050,000.

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.

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