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

Shares of 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 changing hands.

Analysts Set New Price Targets

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

Chagee Stock Up 20.9%

The stock’s 50 day moving average price is $10.26 and its 200-day moving average price is $11.63. The stock has a market capitalization of $2.25 billion and a PE ratio of 13.73.

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

Institutional Trading of Chagee

Several institutional investors have recently made changes to their positions in CHA. Fosun International Ltd grew its position in shares of Chagee by 19,295.0% during the fourth quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock worth $86,610,000 after purchasing an additional 7,408,691 shares in the last quarter. Schroder Investment Management Group purchased a new stake in shares of Chagee during the third quarter worth about $46,150,000. UBS Group AG grew its position in shares of Chagee by 212.5% during the third quarter. UBS Group AG now owns 984,755 shares of the company’s stock worth $16,298,000 after purchasing an additional 669,583 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Chagee during the fourth quarter worth about $5,407,000. Finally, Jane Street Group LLC grew its position in shares of Chagee by 2,237.0% during the fourth quarter. Jane Street Group LLC now owns 439,640 shares of the company’s stock worth $5,113,000 after purchasing an additional 420,828 shares in the last quarter.

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