DavidsTea (NASDAQ:DTEA) Sees Unusually-High Trading Volume

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DavidsTea Inc (NASDAQ:DTEA) shares saw unusually-strong trading volume on Wednesday . Approximately 740,969 shares changed hands during trading, an increase of 184% from the previous session’s volume of 260,831 shares.The stock last traded at $1.50 and had previously closed at $1.30.

Separately, ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st.

The company has a 50-day moving average price of $1.25.

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

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

About DavidsTea (NASDAQ:DTEA)

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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