Chagee (NASDAQ:CHA) Cut to Sell at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Chagee (NASDAQ:CHA – Free Report) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. began coverage on shares of Chagee in a report on Friday, November 14th. They issued an “underweight” rating and a $14.20 target price on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Chagee in a report on Monday, December 1st. Finally, Macquarie initiated coverage on Chagee in a report on Friday, September 5th. They issued a “neutral” rating and a $19.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Chagee presently has a consensus rating of “Hold” and a consensus price target of $32.73.

Read Our Latest Stock Analysis on CHA

Chagee Trading Down 5.8%

Shares of CHA stock opened at $13.73 on Friday. Chagee has a 1 year low of $12.99 and a 1 year high of $41.80. The firm’s fifty day moving average price is $15.54. The firm has a market cap of $2.52 billion and a PE ratio of 15.60.

Chagee (NASDAQ:CHA – Get Free Report) last announced its earnings results on Friday, November 28th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.07). The company had revenue of $450.67 million during the quarter, compared to analyst estimates of $458.31 million.

Chagee Announces Dividend

The firm also recently declared a dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, December 8th.

Hedge Funds Weigh In On Chagee

Several institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. purchased a new stake in shares of Chagee in the second quarter worth approximately $26,000. Quantbot Technologies LP acquired a new position in Chagee in the 3rd quarter valued at approximately $34,000. Ovata Capital Management Ltd lifted its position in Chagee by 22.2% in the 3rd quarter. Ovata Capital Management Ltd now owns 27,500 shares of the company’s stock worth $455,000 after buying an additional 5,000 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Chagee during the 2nd quarter valued at $172,000. Finally, FACTORIAL MANAGEMENT Ltd acquired a new stake in shares of Chagee during the 2nd quarter valued at $178,000.

Chagee Company Profile

(Get Free Report)

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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