Chagee (NASDAQ:CHA) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Chagee's stock was downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment on the company.
• The company's Q2 earnings missed analysts' expectations, reporting $0.05 EPS against a forecast of $0.09 and revenue of $465.11 million below the estimated $484.14 million.
• Despite the downgrade, four analysts have assigned a "buy" rating to Chagee, reflecting a mixed outlook with an average price target of $36.44 for the stock.

Chagee (NASDAQ:CHA - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday.

A number of other research analysts also recently issued reports on the company. CICC Research initiated coverage on Chagee in a report on Friday, June 6th. They issued an "outperform" rating and a $41.50 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Chagee in a research note on Thursday, June 19th. They issued a "buy" rating and a $40.50 target price for the company. Morgan Stanley began coverage on shares of Chagee in a research note on Monday, June 2nd. They issued an "overweight" rating and a $37.50 target price for the company. Citigroup began coverage on shares of Chagee in a research note on Wednesday, June 4th. They issued a "buy" rating and a $43.70 target price for the company. Finally, Macquarie began coverage on shares of Chagee in a research note on Friday, September 5th. They issued a "neutral" rating and a $19.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Chagee has a consensus rating of "Moderate Buy" and an average price target of $36.44.

Chagee Stock Performance

Shares of CHA stock traded down $0.52 during trading hours on Friday, reaching $16.64. 837,062 shares of the company's stock were exchanged, compared to its average volume of 1,385,952. Chagee has a 1 year low of $16.58 and a 1 year high of $41.80. The firm has a fifty day moving average price of $22.47.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CHA. Infini Capital Management Ltd purchased a new stake in shares of Chagee during the second quarter worth $681,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Chagee during the second quarter worth $204,000. Hudson Bay Capital Management LP purchased a new stake in shares of Chagee during the second quarter worth $2,611,000. Balyasny Asset Management L.P. purchased a new stake in shares of Chagee during the second quarter worth $851,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Chagee during the second quarter worth $1,415,000.

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.