DavidsTea Inc (DTEA) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of DavidsTea Inc (NASDAQ:DTEA) from a hold rating to a sell rating in a report issued on Friday.

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. “

A number of other equities research analysts have also weighed in on DTEA. TheStreet lowered DavidsTea from a hold rating to a sell rating in a research report on Monday, December 5th. William Blair lowered DavidsTea from an outperform rating to a market perform rating in a research report on Friday, December 9th. BMO Capital Markets lowered DavidsTea from an outperform rating to a market perform rating and decreased their target price for the company from $16.00 to $9.00 in a research report on Friday, December 9th. Finally, Bank of America Corp lowered DavidsTea from a neutral rating to an underperform rating in a research report on Tuesday, December 13th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and an average price target of $13.00.

Shares of DavidsTea (NASDAQ:DTEA) traded down 0.66% during midday trading on Friday, reaching $7.55. The company had a trading volume of 1,878 shares. The firm’s 50 day moving average price is $6.92 and its 200-day moving average price is $9.07. DavidsTea has a 1-year low of $6.30 and a 1-year high of $14.30.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in DTEA. Two Sigma Investments LP bought a new position in DavidsTea during the fourth quarter valued at approximately $191,000. Granite Investment Partners LLC raised its position in DavidsTea by 6.5% in the third quarter. Granite Investment Partners LLC now owns 142,380 shares of the company’s stock valued at $1,754,000 after buying an additional 8,722 shares during the last quarter. William Harris Investors Inc. raised its position in DavidsTea by 106.1% in the fourth quarter. William Harris Investors Inc. now owns 726,074 shares of the company’s stock valued at $4,974,000 after buying an additional 373,827 shares during the last quarter. Finally, Osmium Partners LLC bought a new position in DavidsTea during the fourth quarter valued at approximately $6,354,000. 20.94% of the stock is owned by hedge funds and other institutional investors.

About DavidsTea

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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