Morgan Stanley Lowers Zevia PBC (NYSE:ZVIA) Price Target to $3.00

Zevia PBC (NYSE:ZVIA) had its price objective reduced by Morgan Stanley from $3.25 to $3.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 53.06% from the company’s current price.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group lowered Zevia PBC from a “buy” rating to a “neutral” rating and dropped their target price for the company from $5.00 to $3.00 in a report on Tuesday, July 25th. BMO Capital Markets dropped their price objective on Zevia PBC from $8.00 to $5.00 and set an “outperform” rating on the stock in a report on Wednesday, August 9th. Stephens reaffirmed an “overweight” rating and set a $8.00 price objective on shares of Zevia PBC in a report on Tuesday, July 25th. Wells Fargo & Company dropped their price objective on Zevia PBC from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 25th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $4.00 target price on shares of Zevia PBC in a research note on Tuesday, August 15th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.33.

Zevia PBC Stock Performance

Shares of ZVIA opened at $1.96 on Wednesday. The stock has a market cap of $139.85 million, a P/E ratio of -5.16 and a beta of 0.59. The stock has a 50-day moving average of $2.18 and a two-hundred day moving average of $3.09. Zevia PBC has a one year low of $1.66 and a one year high of $5.24.

Zevia PBC (NYSE:ZVIA) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.07. Zevia PBC had a negative return on equity of 23.12% and a negative net margin of 11.36%. The firm had revenue of $42.24 million for the quarter, compared to analysts’ expectations of $42.00 million. Analysts predict that Zevia PBC will post -0.42 EPS for the current fiscal year.

Insider Activity

In other news, Director Padraic L. Spence sold 32,295 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $2.56, for a total transaction of $82,675.20. Following the completion of the transaction, the director now directly owns 1,904,142 shares of the company’s stock, valued at approximately $4,874,603.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Zevia PBC news, Director Padraic L. Spence sold 32,295 shares of Zevia PBC stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $2.56, for a total value of $82,675.20. Following the completion of the sale, the director now directly owns 1,904,142 shares of the company’s stock, valued at approximately $4,874,603.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Padraic L. Spence sold 32,546 shares of Zevia PBC stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $1.88, for a total transaction of $61,186.48. Following the completion of the sale, the director now directly owns 1,871,596 shares of the company’s stock, valued at $3,518,600.48. The disclosure for this sale can be found here. In the last three months, insiders sold 103,656 shares of company stock worth $239,932. Company insiders own 11.73% of the company’s stock.

Hedge Funds Weigh In On Zevia PBC

Hedge funds have recently made changes to their positions in the stock. Anchor Capital Advisors LLC boosted its holdings in shares of Zevia PBC by 27.3% in the 2nd quarter. Anchor Capital Advisors LLC now owns 256,757 shares of the company’s stock valued at $1,107,000 after purchasing an additional 55,040 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Zevia PBC during the 2nd quarter valued at $42,000. California State Teachers Retirement System acquired a new position in shares of Zevia PBC during the 2nd quarter valued at $36,000. Allspring Global Investments Holdings LLC acquired a new position in Zevia PBC in the 3rd quarter worth $31,000. Finally, Silvercrest Asset Management Group LLC lifted 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 buying an additional 112,208 shares in the last quarter. Institutional investors and hedge funds own 46.65% of the company’s stock.

Zevia PBC Company Profile

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.