DavidsTea (NASDAQ:DTEA) Stock Rating Lowered by ValuEngine

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ValuEngine cut shares of DavidsTea (NASDAQ:DTEA) from a buy rating to a hold rating in a research report report published on Tuesday morning, ValuEngine reports.

Shares of NASDAQ:DTEA traded down $0.07 during midday trading on Tuesday, hitting $1.72. 1,491 shares of the company’s stock traded hands, compared to its average volume of 84,937. The firm’s fifty day moving average price is $1.64 and its two-hundred day moving average price is $1.54. DavidsTea has a twelve month low of $1.07 and a twelve month high of $2.30.

DavidsTea (NASDAQ:DTEA) last posted its earnings results on Tuesday, September 17th. The company reported ($0.20) earnings per share for the quarter. The business had revenue of $29.50 million for the quarter. DavidsTea had a negative net margin of 15.89% and a negative return on equity of 17.58%.

A hedge fund recently bought a new stake in DavidsTea stock. Essex Investment Management Co. LLC purchased a new position in shares of DavidsTea Inc (NASDAQ:DTEA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 166,216 shares of the company’s stock, valued at approximately $342,000. Essex Investment Management Co. LLC owned 0.64% of DavidsTea at the end of the most recent reporting period. Institutional investors own 1.06% of the company’s stock.

About DavidsTea

DAVIDsTEA Inc operates as a retailer of specialty tea in Canada and the United States. The company offers approximately 135 loose-leaf teas, pre-packaged teas, tea sachets and tea-related gifts, and accessories; and food, as well as tea beverages, such as hot or iced tea, and tea lattes. It provides loose-leaf tea in white, green, oolong, black, pu'erh, mate, rooibos, and herbal tea categories.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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