DavidsTea Inc. (DTEA) Shares Up 4.6%
DavidsTea Inc. (NASDAQ:DTEA) shares traded up 4.6% during trading on Thursday . The stock traded as high as $14.30 and last traded at $13.79, with a volume of 98,991 shares. The stock had previously closed at $13.18.
Several analysts recently issued reports on the stock. BMO Capital Markets restated a “market perform” rating and issued a $13.00 price objective on shares of DavidsTea in a report on Thursday, June 9th. Zacks Investment Research lowered shares of DavidsTea from a “hold” rating to a “sell” rating in a report on Monday, April 11th.
The firm’s 50-day moving average is $12.31 and its 200-day moving average is $11.36. The stock’s market capitalization is $341.14 million.
DavidsTea (NASDAQ:DTEA) last posted its earnings results on Wednesday, June 8th. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The firm earned $44.50 million during the quarter. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. On average, analysts anticipate that DavidsTea Inc. will post $0.53 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC raised its stake in DavidsTea by 1.6% in the fourth quarter. Jennison Associates LLC now owns 880,679 shares of the company’s stock valued at $10,912,000 after buying an additional 13,712 shares during the period. CI Investments Inc. raised its stake in DavidsTea by 11.8% in the fourth quarter. CI Investments Inc. now owns 390,000 shares of the company’s stock worth $4,832,000 after buying an additional 41,300 shares during the last quarter. Janus Capital Management raised its stake 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 during the last quarter. Finally, I.G. Investment Management LTD. raised its stake 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 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.