Chagee (NASDAQ:CHA) Stock Jumps 4.9% – Here’s What Happened

by · The Markets Daily

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA – Get Free Report) shares were up 4.9% during mid-day trading on Monday. The company traded as high as $11.75 and last traded at $11.80. 674,641 shares traded hands during trading, a decline of 4% from the average daily volume of 699,844 shares. The stock had previously closed at $11.25.

Wall Street Analyst Weigh In

CHA has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Chagee from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 4th. Weiss Ratings downgraded Chagee from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, July 30th. Finally, The Goldman Sachs Group assumed coverage on Chagee in a research note on Sunday, June 21st. They issued a “neutral” rating and a $13.60 price objective on the stock. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $13.82.

View Our Latest Analysis on CHA

Chagee Trading Up 5.0%

The company’s fifty day moving average price is $11.23 and its two-hundred day moving average price is $11.02. The firm has a market cap of $2.17 billion, a P/E ratio of 11.71 and a beta of 1.48.

Chagee (NASDAQ:CHA – Get Free Report) last announced its earnings results on Friday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping 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 during the quarter. On average, analysts predict that Chagee Holdings Limited – Sponsored ADR will post 1.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Chagee

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in shares of Chagee by 5,266.8% in the first quarter. Bank of America Corp DE now owns 50,502 shares of the company’s stock worth $470,000 after acquiring an additional 49,561 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Chagee in the first quarter valued at approximately $1,211,000. Renaissance Technologies LLC bought a new position in Chagee in the 1st quarter worth approximately $2,511,000. Y Intercept Hong Kong Ltd bought a new position in Chagee in the 1st quarter worth approximately $427,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Chagee by 5,007.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,546 shares of the company’s stock worth $53,000 after buying an additional 4,457 shares in the last quarter.

About Chagee

(Get Free Report)

Chagee, also known as BaWangChaJi (霸王茶姬), is a Chinese tea beverage company that operates a chain of cafés and tea shops. Founded in 2017, the company focuses on freshly prepared drinks based on traditional Asian tea varieties, combining tea culture with modern café-style service and branding.

Its product range primarily includes tea-based beverages such as milk tea, pure tea and specialty tea lattes made with varieties including jasmine green tea, oolong tea and black tea. Chagee also offers selected seasonal and complementary beverages, with its menu and product development centered on brewed tea rather than the tapioca-focused drinks commonly associated with traditional bubble tea.

Chagee serves customers through a combination of company-operated and franchised locations.

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