Chagee (NASDAQ:CHA) Shares Gap Up – Still a Buy?

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) gapped up before the market opened on Friday . The stock had previously closed at $10.16, but opened at $11.65. Chagee shares last traded at $12.4390, with a volume of 1,201,012 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CHA shares. Weiss Ratings reissued a “sell (d)” rating on shares of Chagee in a research report on Friday, March 27th. JPMorgan Chase & Co. upgraded Chagee from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $11.50 to $16.00 in a research note on Thursday, April 2nd. Finally, Zacks Research cut Chagee from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 31st. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Chagee has a consensus rating of “Hold” and an average target price of $30.31.

Chagee Price Performance

The company has a 50 day moving average price of $10.26 and a two-hundred day moving average price of $11.63. The stock has a market cap of $2.25 billion and a PE ratio of 13.73.

Chagee (NASDAQ:CHA) last released its quarterly earnings data on Saturday, May 30th. The company reported $0.38 earnings per share for the quarter. Chagee had a net margin of 9.00% and a return on equity of 16.60%. The firm had revenue of $514.31 million during the quarter. As a group, equities analysts predict that Chagee Holdings Limited – Sponsored ADR will post 1.21 earnings per share for the current fiscal year.

Institutional Trading of Chagee

A number of hedge funds have recently bought and sold shares of CHA. Fosun International Ltd increased its position in Chagee by 19,295.0% during the fourth quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock valued at $86,610,000 after acquiring an additional 7,408,691 shares during the last quarter. Schroder Investment Management Group purchased a new stake in Chagee during the third quarter valued at $46,150,000. UBS Group AG increased its position in Chagee by 212.5% during the third quarter. UBS Group AG now owns 984,755 shares of the company’s stock valued at $16,298,000 after acquiring an additional 669,583 shares during the last quarter. Marshall Wace LLP purchased a new stake in Chagee during the fourth quarter valued at approximately $5,407,000. Finally, Jane Street Group LLC increased its holdings in Chagee by 2,237.0% during the fourth quarter. Jane Street Group LLC now owns 439,640 shares of the company’s stock valued at $5,113,000 after buying an additional 420,828 shares during the last quarter.

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.