Short Interest in DavidsTea Inc. (DTEA) Drops By 24.8%
DavidsTea Inc. (NASDAQ:DTEA) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 611,989 shares, a drop of 24.8% from the October 14th total of 813,830 shares. Based on an average trading volume of 61,416 shares, the days-to-cover ratio is currently 10.0 days.
Several equities analysts have recently weighed in on the company. Zacks Investment Research downgraded DavidsTea from a “buy” rating to a “hold” rating in a report on Tuesday, November 8th. BMO Capital Markets restated an “in-line” rating and set a $16.00 price target on shares of DavidsTea in a report on Thursday, September 8th.
Shares of DavidsTea (NASDAQ:DTEA) opened at 10.35 on Thursday. DavidsTea has a 52-week low of $8.88 and a 52-week high of $14.30. The company’s 50 day moving average price is $11.62 and its 200 day moving average price is $12.53.
DavidsTea (NASDAQ:DTEA) last posted its quarterly earnings data on Wednesday, September 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.09). DavidsTea had a return on equity of 9.81% and a net margin of 6.39%. The company earned $41.08 million during the quarter. During the same quarter in the previous year, the firm earned ($0.07) EPS. DavidsTea’s revenue was up 25.3% compared to the same quarter last year. On average, equities analysts predict that DavidsTea will post $0.39 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC boosted its position in DavidsTea by 36.5% in the second quarter. Jennison Associates LLC now owns 1,220,836 shares of the company’s stock worth $16,640,000 after buying an additional 326,763 shares during the last quarter. William Harris Investors Inc. acquired a new position in DavidsTea during the second quarter worth about $4,391,000. FMR LLC boosted its position in DavidsTea by 2.3% in the second quarter. FMR LLC now owns 3,334,100 shares of the company’s stock worth $45,444,000 after buying an additional 74,800 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in DavidsTea during the third quarter worth about $408,000. Finally, Spark Investment Management LLC acquired a new position in DavidsTea during the second quarter worth about $325,000. Institutional investors own 24.42% of the company’s stock.
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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