JPMorgan Chase & Co. Upgrades Chagee (NASDAQ:CHA) to “Neutral”

Chagee (NASDAQ:CHA) was upgraded by stock analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a $11.50 price objective on the stock, down from their previous price objective of $12.40. JPMorgan Chase & Co.‘s price target suggests a potential upside of 11.54% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on CHA. Wall Street Zen raised shares of Chagee from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chagee in a research note on Monday, December 29th. Jefferies Financial Group assumed coverage on Chagee in a research report on Wednesday, January 7th. They set a “hold” rating and a $14.00 price objective on the stock. Finally, Zacks Research upgraded Chagee from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $29.67.

Chagee Stock Performance

Shares of CHA stock opened at $10.31 on Friday. The company has a market capitalization of $1.89 billion and a PE ratio of 11.72. Chagee has a 52-week low of $9.95 and a 52-week high of $41.80. The business’s fifty day moving average is $12.18 and its 200 day moving average is $15.68.

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

Institutional Trading of Chagee

Large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP purchased a new position in Chagee during the 4th quarter valued at $5,407,000. Hudson Bay Capital Management LP purchased a new position in shares of Chagee during the fourth quarter valued at about $2,091,000. Caitong International Asset Management Co. Ltd raised its stake in Chagee by 3,141.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,885 shares of the company’s stock worth $34,000 after buying an additional 2,796 shares in the last quarter. Polymer Capital Management HK LTD lifted its holdings in Chagee by 39.1% in the fourth quarter. Polymer Capital Management HK LTD now owns 15,300 shares of the company’s stock worth $178,000 after buying an additional 4,300 shares during the period. Finally, Jane Street Group LLC boosted its position in Chagee by 2,237.0% during the 4th quarter. Jane Street Group LLC now owns 439,640 shares of the company’s stock valued at $5,113,000 after acquiring an additional 420,828 shares in the last quarter.

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.