DavidsTea Inc. (DTEA) Sees Strong Trading Volume
DavidsTea Inc. (NASDAQ:DTEA) shares saw an uptick in trading volume on Wednesday . 96,492 shares were traded during mid-day trading, an increase of 79% from the previous session’s volume of 53,966 shares.The stock last traded at $12.32 and had previously closed at $12.42.
A number of brokerages have recently issued reports on DTEA. BMO Capital Markets restated a “hold” rating and issued a $13.00 price target on shares of DavidsTea in a research report on Thursday, June 16th. Zacks Investment Research downgraded shares of DavidsTea from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 9th. Finally, Lake Street Capital began coverage on shares of DavidsTea in a research report on Tuesday, July 12th. They issued a “buy” rating and a $20.00 price target on the stock.
The company has a market cap of $304.86 million, a P/E ratio of 30.12 and a beta of 1.00. The stock’s 50-day moving average price is $13.31 and its 200-day moving average price is $12.49.
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DavidsTea (NASDAQ:DTEA) last posted its quarterly earnings data on Wednesday, September 7th. The company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. The company earned $41.08 million during the quarter. DavidsTea had a return on equity of 9.81% and a net margin of 6.39%. The company’s revenue was up 25.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) EPS. Analysts expect that DavidsTea Inc. will post $0.39 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of DTEA. Waddell & Reed Financial Inc. bought a new position in DavidsTea during the second quarter valued at $211,000. Spark Investment Management LLC bought a new position in DavidsTea during the second quarter valued at $325,000. FMR LLC boosted its position in DavidsTea by 2.3% in the second quarter. FMR LLC now owns 3,334,100 shares of the company’s stock valued at $45,444,000 after buying an additional 74,800 shares during the period. William Harris Investors Inc. bought a new position in DavidsTea during the second quarter valued at $4,391,000. Finally, Jennison Associates LLC boosted its position in DavidsTea by 36.5% in the second quarter. Jennison Associates LLC now owns 1,220,836 shares of the company’s stock valued at $16,640,000 after buying an additional 326,763 shares during the period. Institutional investors own 24.82% of the company’s stock.
DavidsTea Company Profile
DAVIDsTEA Inc is engaged in the retail and online sale of tea, tea accessories, and food and beverages in Canada and in the United States. The Company’s segments include Canada and the U.S. The Company is a branded retailer of specialty tea, offering approximately 150 loose-leaf teas, pre-packaged teas, tea sachets and tea-related gifts, accessories, and food and beverages primarily through approximately 190 DAVIDsTEA stores, which are operated by the Company, and its Website, davidstea.com.
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