DAVIDsTEA (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 down $0.15 on Tuesday, hitting $3.90. 126,466 shares of the company were exchanged, compared to its average volume of 60,812. DAVIDsTEA has a 12 month low of $3.75 and a 12 month high of $7.95.

Large investors have recently bought and sold shares of the business. CI Investments Inc. increased its stake in DAVIDsTEA by 11.8% in the 4th quarter. CI Investments Inc. now owns 390,000 shares of the company’s stock valued at $4,832,000 after buying an additional 41,300 shares during the last quarter. Vivaldi Capital Management LLC purchased a new stake in DAVIDsTEA in the 1st quarter valued at about $5,631,217,000. FMR LLC increased its stake in DAVIDsTEA by 3.0% in 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 during the last quarter. Granite Investment Partners LLC increased its stake in DAVIDsTEA by 6.5% in the 3rd quarter. Granite Investment Partners LLC now owns 142,380 shares of the company’s stock valued at $1,754,000 after buying an additional 8,722 shares during the last quarter. Finally, Vivaldi Asset Management LLC purchased a new stake in DAVIDsTEA in the 2nd quarter valued at about $5,383,000. Hedge funds and other institutional investors own 10.48% of the company’s stock.

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About DAVIDsTEA

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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