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

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

CHA has been the topic of a number of other reports. Zacks Research upgraded Chagee from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. CLSA initiated coverage on Chagee in a report on Sunday, May 31st. They set a “hold” rating and a $10.00 price objective for the company. Morgan Stanley restated an “overweight” rating and issued a $15.50 target price on shares of Chagee in a research note on Friday, May 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chagee in a report on Friday, March 27th. Finally, Wall Street Zen upgraded shares of Chagee from a “hold” rating to a “strong-buy” rating in a research report on Saturday, June 6th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.68.

Chagee Trading Down 3.7%

Shares of CHA opened at $11.22 on Friday. The stock has a market cap of $2.06 billion, a PE ratio of 16.03 and a beta of 1.72. Chagee has a 1 year low of $8.98 and a 1 year high of $29.10. The stock has a 50 day simple moving average of $10.87 and a 200-day simple moving average of $11.30.

Institutional Investors Weigh In On Chagee

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. acquired a new position in Chagee in the second quarter worth $26,000. Quantbot Technologies LP acquired a new stake in shares of Chagee in the third quarter valued at $34,000. Caitong International Asset Management Co. Ltd increased its stake in shares of 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 valued at $34,000 after buying an additional 2,796 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of Chagee in the second quarter valued at about $172,000. Finally, Geode Capital Management LLC bought a new position in shares of Chagee in the second quarter valued at about $232,000.

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.