Chagee (NASDAQ:CHA) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Key Points

• Chagee reported quarterly earnings of $0.05 EPS, missing expectations by $0.04.
• The company's stock opened at $22.00, and has seen a one-year low of $20.56 and high of $41.80.
• Despite the earnings miss, Chagee maintains an average analyst rating of "Buy" with a consensus price target of $40.80.

Chagee (NASDAQ:CHA - Get Free Report) issued its quarterly earnings results on Friday. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.04), Zacks reports.

Chagee Stock Down 0.6%

CHA opened at $22.00 on Friday. The firm's fifty day moving average price is $24.50. Chagee has a one year low of $20.56 and a one year high of $41.80.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CHA shares. Wall Street Zen lowered shares of Chagee from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. CICC Research started coverage on shares of Chagee in a research note on Friday, June 6th. They issued an "outperform" rating and a $41.50 price objective for the company. Morgan Stanley started coverage on shares of Chagee in a research note on Monday, June 2nd. They issued an "overweight" rating and a $37.50 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Chagee in a research note on Thursday, June 19th. They issued a "buy" rating and a $40.50 price objective for the company. Finally, Citigroup started coverage on shares of Chagee in a research note on Wednesday, June 4th. They issued a "buy" rating and a $43.70 price objective for the company. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Chagee presently has an average rating of "Buy" and a consensus price target of $40.80.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Hudson Bay Capital Management LP purchased a new position in Chagee in the second quarter worth $2,611,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Chagee in the second quarter worth $1,415,000. Russell Investments Group Ltd. purchased a new position in Chagee in the second quarter worth $1,226,000. Balyasny Asset Management L.P. purchased a new position in Chagee in the second quarter worth $851,000. Finally, Walleye Capital LLC purchased a new position in Chagee in the second quarter worth $587,000.

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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