Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) Receives Consensus Recommendation of “Hold” from Brokerages

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) has been given a consensus recommendation of “Hold” by the seven analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $13.82.

Several research firms have recently commented on CHA. Wall Street Zen upgraded Chagee from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 5th. The Goldman Sachs Group began coverage on shares of Chagee in a research note on Sunday, June 21st. They issued a “neutral” rating and a $13.60 price target for the company. CLSA assumed coverage on shares of Chagee in a research note on Sunday, May 31st. They set a “hold” rating and a $10.00 price objective on the stock. Zacks Research raised shares of Chagee from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, Morgan Stanley reissued an “overweight” rating and set a $15.50 price objective on shares of Chagee in a report on Friday, May 29th.

Chagee Stock Performance

Shares of CHA opened at $12.51 on Tuesday. The company has a market capitalization of $2.30 billion, a P/E ratio of 12.39 and a beta of 1.60. Chagee has a one year low of $8.98 and a one year high of $18.46. The stock has a 50-day moving average price of $11.14 and a 200 day moving average price of $10.92.

Chagee (NASDAQ:CHA) last issued its quarterly earnings data on Friday, August 28th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. Chagee had a return on equity of 16.43% and a net margin of 10.23%.The firm had revenue of $502.59 million during the quarter. As a group, equities research analysts forecast that Chagee will post 1.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chagee

Hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its holdings in Chagee by 5,007.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,546 shares of the company’s stock valued at $53,000 after buying an additional 4,457 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Chagee during the 1st quarter worth approximately $427,000. Bank of America Corp DE lifted its holdings in Chagee by 5,266.8% during the 1st quarter. Bank of America Corp DE now owns 50,502 shares of the company’s stock worth $470,000 after buying an additional 49,561 shares during the last quarter. Virtu Financial LLC grew its position in shares of Chagee by 355.9% in the 4th quarter. Virtu Financial LLC now owns 54,304 shares of the company’s stock worth $632,000 after acquiring an additional 42,393 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of Chagee in the 1st quarter worth approximately $1,211,000.

About Chagee

Chagee Holding Limited operates the CHAGEE beverage brand, which specializes in freshly prepared tea drinks inspired by traditional Chinese tea culture. Its menu includes tea-based milk beverages, fruit tea and other drinks made with tea leaves, milk and related ingredients. The company positions CHAGEE as a premium, modern tea brand serving customers through branded retail locations.

Founded in 2017, Chagee has expanded its store network primarily through mainland China, while also serving customers in Southeast Asia.