Short Interest in DAVIDsTEA Inc. (NASDAQ:DTEA) Declines By 39.5%

DAVIDsTEA Inc. (NASDAQ:DTEAGet Rating) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 158,000 shares, a decrease of 39.5% from the April 30th total of 261,200 shares. Based on an average trading volume of 35,300 shares, the days-to-cover ratio is currently 4.5 days. Approximately 1.4% of the shares of the company are sold short.

A hedge fund recently raised its stake in DAVIDsTEA stock. Virtu Financial LLC increased its stake in shares of DAVIDsTEA Inc. (NASDAQ:DTEAGet Rating) by 98.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,643 shares of the company’s stock after buying an additional 10,764 shares during the quarter. Virtu Financial LLC owned about 0.08% of DAVIDsTEA worth $67,000 at the end of the most recent reporting period. 11.92% of the stock is currently owned by hedge funds and other institutional investors.

Separately, began coverage on shares of DAVIDsTEA in a report on Saturday, May 21st. They issued a “hold” rating on the stock.

NASDAQ:DTEA traded up $0.03 during trading hours on Friday, reaching $1.91. 18,076 shares of the company were exchanged, compared to its average volume of 45,490. The company has a market capitalization of $50.48 million, a P/E ratio of 0.82 and a beta of 3.05. DAVIDsTEA has a 1-year low of $1.75 and a 1-year high of $5.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.16 and a quick ratio of 1.62. The business has a 50 day moving average of $2.45 and a 200 day moving average of $3.03.

About DAVIDsTEA (Get Rating)

DAVIDsTEA Inc operates as a specialty tea retailer in Canada and the United States. It offers loose-leaf teas, pre-packaged teas, tea sachets, and tea-related gifts; tea accessories, including tea mugs, travel mugs, teacup sets, teapots, tea makers, kettles, infusers, filters, frothers, tins, and spoons; and food and beverages.

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