Chagee (NASDAQ:CHA) Raised to “Hold” at The Goldman Sachs Group

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

Other research analysts have also issued reports about the company. CLSA started coverage on Chagee in a research report on Sunday, May 31st. They issued a “hold” rating and a $10.00 price objective on the stock. JPMorgan Chase & Co. upgraded Chagee from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $11.50 to $16.00 in a research report on Thursday, April 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chagee in a research note on Friday, March 27th. Wall Street Zen upgraded Chagee from a “hold” rating to a “strong-buy” rating in a report on Saturday, June 6th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $15.50 price objective on shares of Chagee in a research report on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $14.68.

Chagee Price Performance

Shares of Chagee stock opened at $11.22 on Friday. The firm has a 50 day simple moving average of $10.87 and a 200 day simple moving average of $11.30. Chagee has a fifty-two week low of $8.98 and a fifty-two week high of $29.10. The firm has a market cap of $2.06 billion, a P/E ratio of 16.03 and a beta of 1.72.

Institutional Trading of Chagee

A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. acquired a new stake in Chagee during the 2nd quarter worth $26,000. Quantbot Technologies LP acquired a new position in shares of Chagee in the 3rd quarter valued at $34,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Chagee by 3,141.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,885 shares of the company’s stock valued at $34,000 after purchasing an additional 2,796 shares during the period. Polymer Capital Management HK LTD boosted its position in shares of Chagee by 39.1% in the 4th quarter. Polymer Capital Management HK LTD now owns 15,300 shares of the company’s stock worth $178,000 after purchasing an additional 4,300 shares during the last quarter. Finally, Ovata Capital Management Ltd boosted its position in shares of Chagee by 22.2% in the 3rd quarter. Ovata Capital Management Ltd now owns 27,500 shares of the company’s stock worth $455,000 after purchasing an additional 5,000 shares during 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.