Zacks Investment Research cut shares of DAVIDsTEA Inc. (NASDAQ:DTEA) from a hold rating to a sell rating in a report published on Tuesday.

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. “

DAVIDsTEA (NASDAQ:DTEA) last posted its quarterly earnings data on Thursday, September 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.02. The business had revenue of $45.70 million during the quarter, compared to the consensus estimate of $44.32 million. DAVIDsTEA had a negative net margin of 3.98% and a positive return on equity of 1.51%. DAVIDsTEA’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.09) EPS.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. PEAK6 Investments L.P. bought a new stake in shares of DAVIDsTEA during the 1st quarter worth $207,000. Vivaldi Asset Management LLC bought a new stake in shares of DAVIDsTEA during the 2nd quarter worth $5,383,000. EdgePoint Investment Group Inc. bought a new stake in shares of DAVIDsTEA during the 2nd quarter worth $7,156,000. Finally, FMR LLC boosted its holdings in shares of DAVIDsTEA by 3.0% during the 1st quarter. FMR LLC now owns 3,101,945 shares of the company’s stock worth $22,800,000 after buying an additional 89,917 shares during the period. 16.84% of the stock is owned by institutional investors and hedge funds.


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,

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