DavidsTea Inc (NASDAQ:DTEA) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $2.30 and last traded at $2.30, with a volume of 19419 shares traded. The stock had previously closed at $2.50.

Several analysts have recently weighed in on the company. ValuEngine upgraded DavidsTea from a “sell” rating to a “hold” rating in a report on Thursday, April 19th. BMO Capital Markets set a $4.00 price objective on DavidsTea and gave the company a “hold” rating in a report on Tuesday, June 12th.

DavidsTea (NASDAQ:DTEA) last announced its quarterly earnings data on Monday, June 11th. The company reported ($0.05) earnings per share for the quarter. The firm had revenue of $35.93 million during the quarter. DavidsTea had a negative net margin of 13.30% and a negative return on equity of 0.46%.

A hedge fund recently bought a new stake in DavidsTea stock. Renaissance Technologies LLC bought a new position in shares of DavidsTea Inc (NASDAQ:DTEA) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 48,900 shares of the company’s stock, valued at approximately $191,000. Renaissance Technologies LLC owned 0.19% of DavidsTea as of its most recent SEC filing. Institutional investors and hedge funds own 12.17% of the company’s stock.

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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