DavidsTea (DTEA) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of DavidsTea (NASDAQ:DTEA) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

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 target price on shares of DavidsTea and gave the stock a hold rating in a research report on Thursday, December 14th.

DavidsTea (DTEA) remained flat at $$3.90 during trading on Tuesday. The company’s stock had a trading volume of 38,805 shares, compared to its average volume of 22,681. The stock has a market capitalization of $100.79, a price-to-earnings ratio of -12.58 and a beta of 0.80. DavidsTea has a fifty-two week low of $3.65 and a fifty-two week high of $7.95.

An institutional investor recently bought a new position in DavidsTea stock. EdgePoint Investment Group Inc. bought a new position in shares of DavidsTea Inc (NASDAQ:DTEA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,223,271 shares of the company’s stock, valued at approximately $7,156,000. 11.68% of the stock is owned by institutional investors.

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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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