Essex Investment Management Co. LLC Increases Holdings in DavidsTea Inc (NASDAQ:DTEA)

Essex Investment Management Co. LLC lifted its holdings in DavidsTea Inc (NASDAQ:DTEA) by 15.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 192,278 shares of the company’s stock after acquiring an additional 26,062 shares during the period. Essex Investment Management Co. LLC owned 0.74% of DavidsTea worth $281,000 at the end of the most recent quarter.

Separately, Virtu Financial LLC bought a new stake in DavidsTea during the fourth quarter worth approximately $63,000. 1.46% of the stock is owned by hedge funds and other institutional investors.

Shares of DavidsTea stock opened at $1.14 on Friday. The stock has a market cap of $28.95 million, a price-to-earnings ratio of -1.13 and a beta of 1.91. The stock has a 50 day moving average price of $1.42 and a 200-day moving average price of $1.59. DavidsTea Inc has a one year low of $1.06 and a one year high of $2.30.

DavidsTea (NASDAQ:DTEA) last released its quarterly earnings results on Friday, December 20th. The company reported ($0.26) earnings per share for the quarter. The company had revenue of $29.84 million for the quarter. DavidsTea had a negative net margin of 17.06% and a negative return on equity of 28.67%.

Separately, ValuEngine upgraded DavidsTea from a “hold” rating to a “buy” rating in a research report on Tuesday, January 28th.

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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