ValuEngine Lowers DavidsTea (NASDAQ:DTEA) to Hold

DavidsTea (NASDAQ:DTEA) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Tuesday, ValuEngine reports.

Shares of DavidsTea stock opened at $1.69 on Tuesday. The company’s fifty day simple moving average is $1.63 and its 200-day simple moving average is $1.53. DavidsTea has a 1 year low of $1.07 and a 1 year high of $2.30.

DavidsTea (NASDAQ:DTEA) last released its earnings results on Tuesday, September 17th. The company reported ($0.20) EPS for the quarter. DavidsTea had a negative net margin of 15.89% and a negative return on equity of 17.58%. The company had revenue of $29.50 million for the quarter.

An institutional investor recently bought a new position in DavidsTea stock. Essex Investment Management Co. LLC bought a new stake in DavidsTea Inc (NASDAQ:DTEA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 166,216 shares of the company’s stock, valued at approximately $342,000. Essex Investment Management Co. LLC owned 0.64% of DavidsTea as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 1.06% of the company’s stock.

DavidsTea Company Profile

DAVIDsTEA Inc operates as a retailer of specialty tea in Canada and the United States. The company offers approximately 135 loose-leaf teas, pre-packaged teas, tea sachets and tea-related gifts, and accessories; and food, as well as tea beverages, such as hot or iced tea, and tea lattes. It provides loose-leaf tea in white, green, oolong, black, pu'erh, mate, rooibos, and herbal tea categories.

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