DavidsTea (DTEA) Lowered to “Sell” at Zacks Investment Research
DavidsTea (NASDAQ:DTEA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “DAVIDsTEA INC. is a beverage company. The company offer proprietary loose-leaf teas, pre-packaged teas, tea sachets and tea-related gifts and accessories. It operates primarily in the United States and Canada. DAVIDsTEA INC. is headquartered in Montreal, Canada. “
Separately, BMO Capital Markets set a $4.00 price target on DavidsTea and gave the stock a “hold” rating in a report on Thursday, December 14th.
DavidsTea (DTEA) traded down $0.05 during midday trading on Tuesday, hitting $3.80. The stock had a trading volume of 3,900 shares, compared to its average volume of 10,114. DavidsTea has a 12 month low of $3.65 and a 12 month high of $7.95. The firm has a market capitalization of $98.76 and a PE ratio of -11.88.
An institutional investor recently bought a new position in DavidsTea stock. EdgePoint Investment Group Inc. purchased a new position in DavidsTea Inc (NASDAQ:DTEA) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,223,271 shares of the company’s stock, valued at approximately $7,156,000. Hedge funds and other institutional investors own 11.68% of the company’s stock.
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DavidsTea Company Profile
DAVIDsTEA Inc is engaged in the retail and online sale of tea, tea accessories, and food and beverages in Canada and in the United States. The Company’s segments include Canada and the U.S. The Company is a branded retailer of specialty tea, offering approximately 150 loose-leaf teas, pre-packaged teas, tea sachets and tea-related gifts, accessories, and food and beverages primarily through approximately 190 DAVIDsTEA stores, which are operated by the Company, and its Website, davidstea.com.
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