Zevia PBC (NYSE:ZVIA) Downgraded by Zacks Investment Research

Zevia PBC (NYSE:ZVIAGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “Zevia PBC focused on addressing health challenges resulting from excess sugar consumption by offering a portfolio of zero sugar, zero calorie, naturally sweetened beverages. Zevia PBC is based in LOS ANGELES. “

Several other equities research analysts also recently weighed in on the stock. BMO Capital Markets cut their target price on shares of Zevia PBC from $18.00 to $13.00 in a research note on Monday, February 28th. The Goldman Sachs Group cut their target price on shares of Zevia PBC from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, April 4th. Finally, Telsey Advisory Group dropped their price objective on shares of Zevia PBC from $14.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, February 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.19.

Shares of ZVIA stock traded up $0.10 during trading hours on Thursday, hitting $2.36. The company had a trading volume of 3,422 shares, compared to its average volume of 288,093. The company’s fifty day moving average is $3.62 and its 200 day moving average is $6.33. Zevia PBC has a fifty-two week low of $1.86 and a fifty-two week high of $17.50. The stock has a market capitalization of $157.38 million and a PE ratio of -1.22.

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). Zevia PBC had a negative return on equity of 211.71% and a negative net margin of 39.61%. The business had revenue of $34.17 million for the quarter, compared to analysts’ expectations of $36.78 million. Equities research analysts expect that Zevia PBC will post -0.66 earnings per share for the current year.

In other news, COO Harry Margolis sold 5,874 shares of the stock in a transaction that occurred on Thursday, April 7th. The stock was 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 directly owns 766,669 shares of the company’s stock, valued at $3,381,010.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the executive vice president now directly owns 901,617 shares in the company, valued at $3,985,147.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 141,145 shares of company stock valued at $448,523.

Several institutional investors have recently added to or reduced their stakes in ZVIA. Caisse DE Depot ET Placement DU Quebec acquired a new position in Zevia PBC in the 3rd quarter worth $241,582,000. Champlain Investment Partners LLC acquired a new position in shares of Zevia PBC in the 4th quarter valued at approximately $13,689,000. Putnam Investments LLC acquired a new stake in shares of Zevia PBC during the third quarter worth approximately $21,149,000. UBS Asset Management Americas Inc. bought a new stake in shares of Zevia PBC in the third quarter worth $7,667,000. Finally, Emerald Advisers LLC increased its stake in shares of Zevia PBC by 3.2% in the first quarter. Emerald Advisers LLC now owns 643,707 shares of the company’s stock worth $2,942,000 after buying an additional 20,150 shares during the last quarter. Institutional investors own 48.25% of the company’s stock.

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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