Zevia PBC (NYSE:ZVIA) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Zevia PBC (NYSE:ZVIAGet Rating) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $14.19.

ZVIA has been the subject of several recent analyst reports. Zacks Investment Research downgraded Zevia PBC from a “hold” rating to a “sell” rating in a research note on Thursday, March 31st. Telsey Advisory Group decreased their price target on Zevia PBC from $14.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, February 25th. BMO Capital Markets decreased their price target on Zevia PBC from $18.00 to $13.00 in a research note on Monday, February 28th. Finally, The Goldman Sachs Group decreased their price target on Zevia PBC from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, April 4th.

In other news, EVP Robert Gay sold 6,029 shares of Zevia PBC stock in a transaction that occurred on Thursday, April 7th. The stock was sold at an average price of $4.42, for a total transaction of $26,648.18. Following the sale, the executive vice president now owns 901,617 shares of the company’s stock, valued at $3,985,147.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Padraic L. Spence sold 34,045 shares of Zevia PBC stock in a transaction that occurred on Tuesday, April 12th. The shares were sold at an average price of $4.04, for a total value of $137,541.80. Following the sale, the chief executive officer now directly owns 2,559,536 shares in the company, valued at approximately $10,340,525.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,948 shares of company stock valued at $190,094.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in shares of Zevia PBC during the third quarter valued at approximately $27,000. New York State Common Retirement Fund bought a new stake in shares of Zevia PBC during the fourth quarter valued at approximately $30,000. Point72 Hong Kong Ltd bought a new stake in shares of Zevia PBC during the third quarter valued at approximately $32,000. Diversified Trust Co bought a new stake in Zevia PBC during the first quarter worth approximately $49,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Zevia PBC during the fourth quarter worth approximately $53,000. 48.37% of the stock is currently owned by institutional investors.

NYSE:ZVIA opened at $3.44 on Friday. The business’s 50-day moving average is $5.46 and its two-hundred day moving average is $7.76. Zevia PBC has a 12 month low of $3.31 and a 12 month high of $17.50.

Zevia PBC (NYSE:ZVIAGet Rating) last announced its earnings results on Thursday, February 24th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.06). The firm had revenue of $34.17 million during the quarter, compared to the consensus estimate of $36.78 million. Equities research analysts anticipate that Zevia PBC will post -0.57 EPS for the current fiscal year.

Zevia PBC Company Profile (Get Rating)

Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated and non-carbonated soft drinks in the United States and Canada. It offers soda, energy drinks, organic tea, mixers, kidz beverages, and sparkling water. The company offers its products through various retail channels, including grocery distributors, national retailers, warehouse club, and natural products retailers, as well as e-commerce channels.

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Analyst Recommendations for Zevia PBC (NYSE:ZVIA)

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