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

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 Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Several other equities analysts have also commented on CHA. CICC Research initiated coverage on Chagee in a research note on Friday, June 6th. They issued an "outperform" rating and a $41.50 price target on the stock. Morgan Stanley initiated coverage on Chagee in a report on Monday, June 2nd. They issued an "overweight" rating and a $37.50 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Chagee in a report on Thursday, June 19th. They issued a "buy" rating and a $40.50 price objective on the stock. Finally, Citigroup initiated coverage on Chagee in a report on Wednesday, June 4th. They issued a "buy" rating and a $43.70 price objective on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $40.80.

Chagee Stock Down 0.1%

Shares of Chagee stock traded down $0.02 during trading hours on Friday, hitting $21.77. The company's stock had a trading volume of 441,971 shares, compared to its average volume of 1,310,965. Chagee has a twelve month low of $20.87 and a twelve month high of $41.80. The company's fifty day simple moving average is $26.63.

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

Institutional Investors Weigh In On Chagee

Several large investors have recently bought and sold shares of CHA. JPMorgan Chase & Co. purchased a new stake in Chagee during the 2nd quarter worth about $26,000. FACTORIAL MANAGEMENT Ltd purchased a new stake in Chagee during the 2nd quarter worth about $178,000. Geode Capital Management LLC purchased a new stake in Chagee during the 2nd quarter worth about $232,000. Ovata Capital Management Ltd purchased a new stake in Chagee during the 2nd quarter worth about $587,000. Finally, Matthews International Capital Management LLC purchased a new stake in Chagee during the 2nd quarter worth about $1,401,000.

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.