Wall Street Zen Downgrades Chagee (NASDAQ:CHA) to Hold

Key Points

• Chagee (NASDAQ:CHA) was downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, reflecting a shift in analyst sentiment towards the stock.
• Several analysts are still optimistic about Chagee, with ratings ranging from "overweight" to "buy," and a consensus price target of $40.80.
• Chagee reported earnings of $0.54 per share for its latest quarter, with revenues totaling $467.53 million.

Chagee (NASDAQ:CHA - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other research analysts have also recently weighed in on CHA. CICC Research assumed coverage on Chagee in a report on Friday, June 6th. They issued an "outperform" rating and a $41.50 target price on the stock. Citigroup assumed coverage on Chagee in a report on Wednesday, June 4th. They issued a "buy" rating and a $43.70 target price on the stock. Deutsche Bank Aktiengesellschaft began coverage on Chagee in a report on Thursday, June 19th. They issued a "buy" rating and a $40.50 target price on the stock. Finally, Morgan Stanley began coverage on Chagee in a research note on Monday, June 2nd. They set an "overweight" rating and a $37.50 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $40.80.

Chagee Trading Up 0.4%

Chagee stock traded up $0.09 during midday trading on Friday, reaching $21.75. The stock had a trading volume of 314,813 shares, compared to its average volume of 1,299,542. Chagee has a twelve month low of $20.87 and a twelve month high of $41.80. The firm has a 50-day moving average price of $26.46.

Chagee (NASDAQ:CHA - Get Free Report) last issued its earnings results on Friday, May 30th. The company reported $0.54 earnings per share for the quarter. The firm had revenue of $467.53 million during the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. purchased a new stake in shares of Chagee during the second quarter worth about $26,000. FACTORIAL MANAGEMENT Ltd purchased a new stake in shares of Chagee during the second quarter worth about $178,000. Geode Capital Management LLC bought a new stake in Chagee in the second quarter valued at about $232,000. Ovata Capital Management Ltd bought a new stake in Chagee in the second quarter valued at about $587,000. Finally, Russell Investments Group Ltd. bought a new stake in Chagee in the second quarter valued at about $1,226,000.

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.