Chagee (NASDAQ:CHA) Stock Rating Upgraded by The Goldman Sachs Group

Chagee (NASDAQ:CHA) was upgraded by investment analysts at The Goldman Sachs Group to a “hold” rating in a report released on Sunday,Zacks.com reports.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. raised Chagee from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $11.50 to $16.00 in a research note on Thursday, April 2nd. Wall Street Zen raised Chagee from a “hold” rating to a “strong-buy” rating in a research note on Saturday, June 6th. Zacks Research raised shares of Chagee from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Weiss Ratings restated a “sell (d)” rating on shares of Chagee in a research note on Friday, March 27th. Finally, CLSA began coverage on shares of Chagee in a research report on Sunday, May 31st. They set a “hold” rating and a $10.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Chagee presently has a consensus rating of “Hold” and a consensus price target of $14.68.

Chagee Stock Performance

Shares of CHA opened at $11.22 on Friday. Chagee has a 52-week low of $8.98 and a 52-week high of $29.10. The business’s fifty day moving average is $10.87 and its 200-day moving average is $11.30. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 16.03 and a beta of 1.72.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CHA. Fosun International Ltd boosted its position in Chagee by 19,295.0% during the 4th quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock worth $86,610,000 after buying an additional 7,408,691 shares during the period. Schroder Investment Management Group acquired a new position in Chagee in the 3rd quarter valued at approximately $46,150,000. UBS Group AG increased its position in Chagee by 212.5% in the 3rd 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 period. Marshall Wace LLP bought a new position in shares of Chagee during the fourth quarter valued at $5,407,000. Finally, Jane Street Group LLC lifted its holdings 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 during the period.

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.