DavidsTea (NASDAQ:DTEA) Upgraded by ValuEngine to “Buy”

DavidsTea (NASDAQ:DTEA) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, ValuEngine reports.

Shares of DTEA traded down $0.09 during trading hours on Thursday, reaching $1.51. 115,147 shares of the company’s stock traded hands, compared to its average volume of 246,995. The firm’s 50 day simple moving average is $1.40. DavidsTea has a 12 month low of $1.07 and a 12 month high of $5.35.

DavidsTea (NASDAQ:DTEA) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter. The firm had revenue of $62.54 million during the quarter. DavidsTea had a negative return on equity of 13.24% and a negative net margin of 17.25%.

An institutional investor recently raised its position in DavidsTea stock. Barclays PLC grew its holdings in shares of DavidsTea Inc (NASDAQ:DTEA) by 709,971.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 149,115 shares of the company’s stock after acquiring an additional 149,094 shares during the quarter. Barclays PLC owned about 0.57% of DavidsTea worth $176,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 2.93% of the company’s stock.

DavidsTea Company Profile

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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