DavidsTea Inc. (NASDAQ:DTEA) traded down 6.5% on Thursday . The company traded as low as $12.76 and last traded at $12.83, with a volume of 56,320 shares traded. The stock had previously closed at $13.72.

A number of equities research analysts recently weighed in on the company. BMO Capital Markets restated a “hold” rating and set a $13.00 price objective on shares of DavidsTea in a research note on Thursday, June 16th. Zacks Investment Research cut DavidsTea from a “hold” rating to a “sell” rating in a research note on Friday, June 3rd. Finally, Lake Street Capital assumed coverage on DavidsTea in a research note on Tuesday, July 12th. They set a “buy” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $15.40.

The company’s 50 day moving average price is $13.30 and its 200-day moving average price is $11.57. The firm’s market capitalization is $328.88 million.

DavidsTea (NASDAQ:DTEA) last posted its earnings results on Wednesday, June 8th. The company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. The business earned $44.50 million during the quarter. The company’s quarterly revenue was up 24.3% on a year-over-year basis. On average, equities analysts predict that DavidsTea Inc. will post $0.40 EPS for the current year.

Several large investors have recently modified their holdings of the stock. I.G. Investment Management LTD. boosted its stake in shares of 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 last quarter. Janus Capital Management boosted its stake in shares of 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 during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of 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 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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