Zevia PBC (NYSE:ZVIA) Director Padraic L. Spence Sells 33,261 Shares of Stock

Zevia PBC (NYSE:ZVIA) Director Padraic L. Spence sold 33,261 shares of Zevia PBC stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $2.48, for a total transaction of $82,487.28. Following the completion of the transaction, the director now owns 1,936,437 shares of the company’s stock, valued at $4,802,363.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Zevia PBC Stock Up 2.0 %

Shares of NYSE ZVIA opened at $2.35 on Tuesday. Zevia PBC has a 52 week low of $2.25 and a 52 week high of $5.24. The firm’s fifty day moving average is $3.43 and its 200 day moving average is $3.64. The company has a market cap of $167.32 million, a price-to-earnings ratio of -6.01 and a beta of 0.52.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Zevia PBC by 369.7% in the second quarter. BlackRock Inc. now owns 1,535,279 shares of the company’s stock worth $6,617,000 after buying an additional 1,208,403 shares during the period. Emerald Mutual Fund Advisers Trust raised its holdings in Zevia PBC by 7.1% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 1,011,625 shares of the company’s stock worth $3,895,000 after purchasing an additional 67,348 shares in the last quarter. Vanguard Group Inc. raised its holdings in Zevia PBC by 80.8% in the 3rd quarter. Vanguard Group Inc. now owns 874,598 shares of the company’s stock worth $3,778,000 after purchasing an additional 390,761 shares in the last quarter. Silvercrest Asset Management Group LLC raised its holdings in Zevia PBC by 16.2% in the 2nd quarter. Silvercrest Asset Management Group LLC now owns 805,148 shares of the company’s stock worth $3,470,000 after purchasing an additional 112,208 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Zevia PBC by 88.5% in the 2nd quarter. Geode Capital Management LLC now owns 675,115 shares of the company’s stock worth $2,910,000 after purchasing an additional 317,041 shares in the last quarter. 46.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wells Fargo & Company reduced their price target on Zevia PBC from $4.00 to $3.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 25th. Morgan Stanley decreased their price target on Zevia PBC from $3.50 to $3.25 and set an “equal weight” rating on the stock in a research report on Wednesday, August 9th. Stephens reissued an “overweight” rating and issued a $8.00 price target on shares of Zevia PBC in a report on Tuesday, July 25th. The Goldman Sachs Group downgraded Zevia PBC from a “buy” rating to a “neutral” rating and dropped their price target for the company from $5.00 to $3.00 in a research report on Tuesday, July 25th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $4.00 target price on shares of Zevia PBC in a research note on Tuesday, August 15th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Zevia PBC has a consensus rating of “Hold” and a consensus target price of $4.38.

About Zevia PBC

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, and kidz drinks. 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.