DavidsTea Inc. (DTEA) Sees Unusually-High Trading Volume
DavidsTea Inc. (NASDAQ:DTEA) saw unusually-high trading volume on Tuesday . Approximately 128,833 shares changed hands during trading, an increase of 39% from the previous session’s volume of 92,832 shares.The stock last traded at $13.93 and had previously closed at $13.63.
DTEA has been the topic of a number of research analyst reports. Zacks Investment Research lowered DavidsTea from a “hold” rating to a “sell” rating in a research note on Friday, June 3rd. BMO Capital Markets upgraded DavidsTea from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $13.00 to $16.00 in a research note on Thursday, July 7th. Finally, Lake Street Capital started coverage on DavidsTea in a report on Tuesday. They set a “buy” rating and a $20.00 target price for the company. One equities 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’s stock. DavidsTea has an average rating of “Hold” and a consensus target price of $15.40.
The stock’s market capitalization is $340.65 million. The company has a 50 day moving average price of $12.61 and a 200-day moving average price of $11.39.
DavidsTea (NASDAQ:DTEA) last posted its quarterly earnings results on Wednesday, June 8th. The company reported $0.06 earnings per share 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% compared to the same quarter last year. On average, analysts expect that DavidsTea Inc. will post $0.53 EPS for the current fiscal year.
Other hedge funds have recently bought and sold shares of the company. I.G. Investment Management LTD. increased 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. Janus Capital Management increased 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, Jennison Associates LLC increased its stake 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 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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