DavidsTea (DTEA) Upgraded to Hold at ValuEngine

ValuEngine upgraded shares of DavidsTea (NASDAQ:DTEA) from a sell rating to a hold rating in a research note published on Saturday, March 10th.

A number of other analysts have also recently weighed in on the company. Zacks Investment Research upgraded DavidsTea from a sell rating to a hold rating in a research report on Thursday, December 28th. BMO Capital Markets set a $4.00 price target on DavidsTea and gave the stock a hold rating in a research report on Thursday, December 14th.

Shares of DavidsTea (NASDAQ:DTEA) remained flat at $$3.65 during midday trading on Friday. 2,795 shares of the company were exchanged, compared to its average volume of 11,008. DavidsTea has a 12-month low of $3.25 and a 12-month high of $7.85. The stock has a market cap of $94.33, a price-to-earnings ratio of -11.77 and a beta of 0.82.

An institutional investor recently bought a new position in DavidsTea stock. Renaissance Technologies LLC acquired a new position in DavidsTea Inc (NASDAQ:DTEA) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 48,900 shares of the company’s stock, valued at approximately $191,000. Renaissance Technologies LLC owned approximately 0.19% of DavidsTea at the end of the most recent reporting period. Hedge funds and other institutional investors own 12.01% of the company’s stock.

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About DavidsTea

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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