DavidsTea Inc (NASDAQ:DTEA) Sees Large Increase in Short Interest

DavidsTea Inc (NASDAQ:DTEA) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 182,400 shares, a growth of 69.2% from the June 30th total of 107,800 shares. Based on an average trading volume of 320,300 shares, the short-interest ratio is currently 0.6 days. Approximately 1.3% of the shares of the company are sold short.

Shares of DTEA opened at $0.90 on Friday. The company has a 50-day simple moving average of $0.93 and a 200-day simple moving average of $0.96. The company has a current ratio of 1.83, a quick ratio of 1.32 and a debt-to-equity ratio of 3.09. DavidsTea has a 52-week low of $0.32 and a 52-week high of $2.30.

DavidsTea (NASDAQ:DTEA) last announced its quarterly earnings results on Monday, June 15th. The company reported $0.09 earnings per share (EPS) for the quarter. The business had revenue of $54.83 million during the quarter. DavidsTea had a negative net margin of 14.06% and a negative return on equity of 46.75%.

Separately, ValuEngine upgraded shares of DavidsTea from a “hold” rating to a “buy” rating in a report on Thursday, June 11th.

DavidsTea Company Profile

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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