Chagee (NASDAQ:CHA) Trading 6.9% Higher – Time to Buy?

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA)’s stock price was up 6.9% during trading on Tuesday . The company traded as high as $12.15 and last traded at $12.4650. Approximately 156,127 shares traded 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

A number of analysts recently weighed in on the company. The Goldman Sachs Group initiated coverage on Chagee in a report on Sunday, June 21st. They issued a “neutral” rating and a $13.60 price objective for the company. Wall Street Zen upgraded Chagee from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Zacks Research raised Chagee from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. CLSA began coverage on Chagee in a research report on Sunday, May 31st. They set a “hold” rating and a $10.00 price objective for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $15.50 price objective on shares of Chagee in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.82.

Chagee Stock Up 7.1%

The business’s 50 day moving average is $11.04 and its two-hundred day moving average is $10.86. The firm has a market cap of $2.29 billion, a P/E ratio of 12.36 and a beta of 1.60.

Chagee (NASDAQ:CHA) last issued its quarterly earnings results on Friday, August 28th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. Chagee had a net margin of 10.23% and a return on equity of 16.43%. The business had revenue of $502.59 million for the quarter. Equities research analysts anticipate that Chagee Holdings Limited – Sponsored ADR will post 1.29 EPS for the current year.

Institutional Investors Weigh In On Chagee

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. bought a new stake in Chagee in the second quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd grew its position in shares of 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. Quantbot Technologies LP acquired a new stake in shares of Chagee during the 3rd quarter worth approximately $34,000. Geode Capital Management LLC bought a new stake in shares of Chagee in the 4th quarter valued at $147,000. Finally, Federated Hermes Inc. acquired a new position in shares of Chagee during the 2nd quarter valued at $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.