Chagee (NASDAQ:CHA) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Chagee (NASDAQ:CHA) reported quarterly earnings of $0.29 per share, missing the consensus estimate of $0.36 by $0.07. The stock opened at $14.87, with a market cap of $2.73 billion. Analysts have mixed ratings, with an average 'Hold' rating and a target price of $32.73. UBS Group AG increased its holdings significantly, while other firms also acquired stakes. Chagee's mission focuses on modernizing tea-drinking through technology.

Chagee (NASDAQ:CHA - Get Free Report) posted its earnings results on Friday. The company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.07), Zacks reports.

Chagee Stock Performance

CHA stock opened at $14.87 on Friday. Chagee has a 12 month low of $13.04 and a 12 month high of $41.80. The stock has a market cap of $2.73 billion and a PE ratio of 25.52. The business's 50-day moving average price is $15.81.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. UBS Group AG raised its holdings in shares of Chagee by 212.5% in the third quarter. UBS Group AG now owns 984,755 shares of the company's stock worth $16,298,000 after buying an additional 669,583 shares during the period. Hudson Bay Capital Management LP purchased a new stake in Chagee in the second quarter worth $2,611,000. XTX Topco Ltd purchased a new stake in Chagee in the third quarter worth $1,159,000. Barclays PLC bought a new stake in shares of Chagee during the third quarter worth $978,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Chagee during the second quarter valued at $1,415,000.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Chagee in a research note on Tuesday. JPMorgan Chase & Co. began coverage on shares of Chagee in a research report on Friday, November 14th. They issued an "underweight" rating and a $14.20 price target on the stock. Macquarie started coverage on shares of Chagee in a research report on Friday, September 5th. They set a "neutral" rating and a $19.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Chagee from a "buy" rating to a "hold" rating in a report on Sunday, September 7th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $32.73.

View Our Latest Stock Report on CHA

Chagee Company Profile

(Get Free Report)

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.

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