Zevia PBC (NYSE:ZVIA – Get Rating) – Research analysts at Telsey Advisory Group cut their Q1 2022 earnings per share estimates for Zevia PBC in a research note issued on Monday, May 9th. Telsey Advisory Group analyst D. Telsey now anticipates that the company will earn ($0.09) per share for the quarter, down from their prior estimate of ($0.08). Telsey Advisory Group currently has a “Outperform” rating and a $10.00 target price on the stock. Telsey Advisory Group also issued estimates for Zevia PBC’s Q4 2022 earnings at ($0.09) EPS, FY2022 earnings at ($0.33) EPS and FY2023 earnings at ($0.24) EPS.
Several other equities analysts have also recently weighed in on ZVIA. BMO Capital Markets lowered their price objective on shares of Zevia PBC from $18.00 to $13.00 in a research report on Monday, February 28th. Zacks Investment Research cut shares of Zevia PBC from a “hold” rating to a “sell” rating in a research report on Thursday, March 31st. Finally, The Goldman Sachs Group lowered their price objective on shares of Zevia PBC from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, April 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Zevia PBC presently has a consensus rating of “Hold” and a consensus target price of $14.19.
Zevia PBC (NYSE:ZVIA – Get Rating) last posted its quarterly earnings data 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 business had revenue of $34.17 million for the quarter, compared to analysts’ expectations of $36.78 million.
Hedge funds have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund acquired a new position in Zevia PBC during the 4th quarter worth $30,000. Point72 Hong Kong Ltd acquired a new position in Zevia PBC during the 3rd quarter worth $32,000. Diversified Trust Co acquired a new position in Zevia PBC during the 1st quarter worth $49,000. Allspring Global Investments Holdings LLC acquired a new position in Zevia PBC during the 4th quarter worth $53,000. Finally, Penserra Capital Management LLC acquired a new position in Zevia PBC during the 4th quarter worth $54,000. 48.25% of the stock is owned by institutional investors and hedge funds.
In related news, COO Harry Margolis sold 5,874 shares of Zevia PBC stock in a transaction on Thursday, April 7th. The shares were sold at an average price of $4.41, for a total value of $25,904.34. Following the completion of the sale, the chief operating officer now owns 766,669 shares of the company’s stock, valued at approximately $3,381,010.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert Gay sold 6,029 shares of Zevia PBC stock in a transaction on Thursday, April 7th. The shares were sold at an average price of $4.42, for a total transaction of $26,648.18. Following the completion of the sale, the executive vice president now directly owns 901,617 shares of the company’s stock, valued at approximately $3,985,147.14. The disclosure for this sale can be found here. Insiders have sold a total of 92,032 shares of company stock valued at $345,597 in the last three months.
About Zevia PBC (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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