DavidsTea (NASDAQ:DTEA) Trading Up 5.9%

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DavidsTea Inc (NASDAQ:DTEA) was up 5.9% during trading on Thursday . The company traded as high as $1.61 and last traded at $1.61, approximately 110,595 shares traded hands during mid-day trading. A decline of 51% from the average daily volume of 224,555 shares. The stock had previously closed at $1.52.

Separately, ValuEngine raised shares of DavidsTea from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd.

The stock’s 50-day simple moving average is $1.77 and its 200 day simple moving average is $1.50.

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

An institutional investor recently bought a new position 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 Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 166,216 shares of the company’s stock, valued at approximately $342,000. Essex Investment Management Co. LLC owned approximately 0.64% of DavidsTea as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 2.05% of the company’s stock.

DavidsTea Company Profile (NASDAQ:DTEA)

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.

Further Reading: Market Capitalization – What it Means for Investors

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