DAVIDsTEA Inc. (NASDAQ:DTEA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “DAVIDsTEA INC. is a beverage company. The company offer proprietary loose-leaf teas, pre-packaged teas, tea sachets and tea-related gifts and accessories. It operates primarily in the United States and Canada. DAVIDsTEA INC. is headquartered in Montreal, Canada. “

DAVIDsTEA (NASDAQ DTEA) traded up 1.20% during midday trading on Tuesday, hitting $4.20. 22,274 shares of the stock were exchanged. The firm’s 50-day moving average price is $4.58 and its 200 day moving average price is $4.58. DAVIDsTEA has a 1-year low of $4.05 and a 1-year high of $12.88.

DAVIDsTEA (NASDAQ:DTEA) last announced its quarterly earnings results on Thursday, September 7th. The company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.02. The company had revenue of $45.70 million for the quarter, compared to analysts’ expectations of $44.32 million. DAVIDsTEA had a negative net margin of 3.98% and a positive return on equity of 1.51%. DAVIDsTEA’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.09) EPS. Equities research analysts predict that DAVIDsTEA will post $0.05 EPS for the current year.

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Hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its stake in shares of DAVIDsTEA by 3.0% during the 1st quarter. FMR LLC now owns 3,101,945 shares of the company’s stock valued at $22,800,000 after buying an additional 89,917 shares in the last quarter. Vivaldi Asset Management LLC purchased a new stake in DAVIDsTEA in the 2nd quarter worth approximately $5,383,000. PEAK6 Investments L.P. purchased a new stake in DAVIDsTEA in the 1st quarter worth approximately $207,000. Finally, EdgePoint Investment Group Inc. purchased a new stake in DAVIDsTEA in the 2nd quarter worth approximately $7,156,000. Institutional investors own 16.84% 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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