Squarepoint Ops LLC Takes $139,000 Position in Zevia PBC (NYSE:ZVIA)

Squarepoint Ops LLC bought a new stake in Zevia PBC (NYSE:ZVIA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 33,072 shares of the company’s stock, valued at approximately $139,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its position in Zevia PBC by 481.7% in the fourth quarter. Jane Street Group LLC now owns 126,745 shares of the company’s stock valued at $531,000 after buying an additional 104,955 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Zevia PBC during the fourth quarter valued at about $57,000. Stifel Financial Corp acquired a new stake in Zevia PBC during the 4th quarter worth approximately $42,000. Russell Investments Group Ltd. acquired a new position in shares of Zevia PBC in the fourth quarter worth approximately $596,000. Finally, Northern Trust Corp lifted its position in shares of Zevia PBC by 11.6% in the 4th quarter. Northern Trust Corp now owns 119,428 shares of the company’s stock worth $500,000 after purchasing an additional 12,396 shares during the period. Institutional investors and hedge funds own 53.21% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group reissued a “market perform” rating and set a $3.00 target price on shares of Zevia PBC in a research note on Monday, May 5th.

Zevia PBC Trading Up 3.8%

Shares of NYSE:ZVIA opened at $2.61 on Monday. The stock’s fifty day simple moving average is $2.49 and its two-hundred day simple moving average is $2.97. Zevia PBC has a 1-year low of $0.62 and a 1-year high of $4.99. The stock has a market cap of $193.35 million, a PE ratio of -6.86 and a beta of 0.85.

Zevia PBC (NYSE:ZVIA) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The business had revenue of $38.02 million for the quarter, compared to analyst estimates of $37.15 million. Zevia PBC had a negative return on equity of 38.02% and a negative net margin of 14.02%. On average, sell-side analysts forecast that Zevia PBC will post -0.32 earnings per share for the current fiscal year.

About Zevia PBC

Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated beverages in the United States and Canada. It offers soda, energy drinks, organic tea, and kidz drinks. The company offers its products through a network of food, drug, warehouse club, mass, natural, convenience, and e-commerce channels, as well as grocery distributors and natural product stores and specialty outlets.