DavidsTea Inc. (DTEA) Sees Large Volume Increase
Shares of DavidsTea Inc. (NASDAQ:DTEA) saw unusually-high trading volume on Wednesday . Approximately 87,712 shares traded hands during mid-day 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 topic of a number of recent research reports. Zacks Investment Research cut shares of DavidsTea from a “hold” rating to a “sell” rating in a research note on Monday, April 4th. BMO Capital Markets reiterated a “hold” rating and issued a $13.00 target price (down from $14.00) on shares of DavidsTea in a report on Wednesday, April 13th. Finally, Lake Street Capital began coverage on shares of DavidsTea in a report on Tuesday, July 12th. They issued a “buy” rating and a $20.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. DavidsTea currently has a consensus rating of “Hold” and an average target price of $15.40.
The stock’s market cap is $341.63 million. The firm has a 50 day moving average of $12.99 and a 200-day moving average of $11.48.
DavidsTea (NASDAQ:DTEA) last issued its earnings results on Wednesday, June 8th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The firm earned $44.50 million during the quarter. The firm’s revenue was up 24.3% compared to the same quarter last year. Equities research analysts anticipate that DavidsTea Inc. will post $0.53 EPS for the current year.
A number of institutional investors recently added to or reduced their stakes in the company. I.G. Investment Management LTD. boosted 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 in the last quarter. Janus Capital Management boosted its position in DavidsTea by 64.6% in the third quarter. Janus Capital Management now owns 299,949 shares of the company’s stock worth $4,697,000 after buying an additional 117,699 shares in the last quarter. Finally, Jennison Associates LLC boosted 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 in the last quarter.
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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