DavidsTea Inc. (DTEA) Sees Large Volume Increase
DavidsTea Inc. (NASDAQ:DTEA) shares saw unusually-high trading volume on Wednesday . Approximately 87,712 shares traded hands during trading, an increase of 13% from the previous session’s volume of 77,333 shares.The stock last traded at $13.93 and had previously closed at $13.87.
DTEA has been the subject of a number of recent analyst reports. BMO Capital Markets restated a “market perform” rating and set a $14.00 price objective on shares of DavidsTea in a research note on Wednesday, March 23rd. Zacks Investment Research lowered DavidsTea from a “hold” rating to a “sell” rating in a research report on Monday, April 4th. Finally, Lake Street Capital assumed coverage on DavidsTea in a research report on Tuesday, July 12th. They issued a “buy” rating and a $20.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. DavidsTea has an average rating of “Hold” and a consensus price target of $15.40.
The stock’s 50-day moving average price is $12.93 and its 200-day moving average price is $11.46. The company’s market capitalization is $340.65 million.
DavidsTea (NASDAQ:DTEA) last posted its quarterly earnings data on Wednesday, June 8th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $44.50 million for the quarter. The business’s quarterly revenue was up 24.3% on a year-over-year basis. Equities research analysts forecast that DavidsTea Inc. will post $0.53 earnings per share for the current fiscal year.
Other hedge funds and institutional investors have recently bought and sold shares of the company. Janus Capital Management increased its position in DavidsTea by 64.6% in the third quarter. Janus Capital Management now owns 299,949 shares of the company’s stock valued at $4,697,000 after buying an additional 117,699 shares in the last quarter. I.G. Investment Management LTD. increased its position in DavidsTea by 1.1% in the fourth quarter. I.G. Investment Management LTD. now owns 146,200 shares of the company’s stock worth $1,811,000 after buying an additional 1,600 shares during the period. Finally, Jennison Associates LLC increased its position in DavidsTea by 1.6% in the fourth quarter. Jennison Associates LLC now owns 880,679 shares of the company’s stock worth $10,912,000 after buying an additional 13,712 shares during the period.
DavidsTea Inc is a beverage company, which offers various selection of loose-leaf teas, pre-packaged teas, tea sachets, and tea-related gifts and accessories. The Company operates through two segments: Canada and the United States. The Company is engaged in the retail of tea and related tea-products.
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