Chagee (NASDAQ:CHA) Stock Price Up 6.9% - Time to Buy?

Key Points

• Chagee shares rose 6.9% to $12.465, although trading volume was 76% below the average session level.
• Analyst sentiment remains mixed: the stock has an overall “Hold” rating and an average price target of $13.82, with targets ranging from $10.00 to $15.50.
• Chagee recently exceeded quarterly earnings expectations, reporting $0.37 EPS versus a $0.33 consensus estimate and $502.59 million in revenue; analysts project $1.29 in EPS for the full year.

Chagee Holdings Limited - Sponsored ADR (NASDAQ:CHA - Get Free Report) traded up 6.9% on Tuesday . The stock traded as high as $12.15 and last traded at $12.4650. Approximately 156,127 shares changed hands during trading, a decline of 76% from the average session volume of 657,485 shares. The stock had previously closed at $11.66.

Wall Street Analysts Forecast Growth

CHA has been the topic of several recent analyst reports. Morgan Stanley reiterated an "overweight" rating and issued a $15.50 price target on shares of Chagee in a research note on Friday, May 29th. Zacks Research upgraded Chagee from a "strong sell" rating to a "hold" rating in a research report on Monday, June 1st. The Goldman Sachs Group initiated coverage on Chagee in a research note on Sunday, June 21st. They issued a "neutral" rating and a $13.60 price objective on the stock. Weiss Ratings cut Chagee from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, July 30th. Finally, CLSA initiated coverage on Chagee in a research note on Sunday, May 31st. They set a "hold" rating and a $10.00 target price for the company. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $13.82.

Chagee Price Performance

The business's 50-day simple moving average is $11.04 and its two-hundred day simple moving average is $10.86. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 12.36 and a beta of 1.60.

Chagee (NASDAQ:CHA - Get Free Report) last announced its quarterly earnings results on Friday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.04. Chagee had a net margin of 10.23% and a return on equity of 16.43%. The company had revenue of $502.59 million during the quarter. Equities research analysts forecast that Chagee Holdings Limited - Sponsored ADR will post 1.29 earnings per share for the current year.

Hedge Funds Weigh In On Chagee

Several large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. bought a new stake in shares of Chagee during the second quarter worth about $26,000. Quantbot Technologies LP bought a new position in Chagee in the 3rd quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd boosted its position in Chagee by 3,141.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,885 shares of the company's stock worth $34,000 after buying an additional 2,796 shares during the period. Polymer Capital Management HK LTD grew its holdings in Chagee by 39.1% during the 4th quarter. Polymer Capital Management HK LTD now owns 15,300 shares of the company's stock worth $178,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Federated Hermes Inc. bought a new stake in Chagee during the 2nd quarter worth approximately $172,000.

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. “Quality, Health, and Convenience” is the guiding principle of how we make our products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.