Zevia PBC (NYSE:ZVIA) Trading Down 2.5% – Time to Sell?

Shares of Zevia PBC (NYSE:ZVIA) traded down 2.5% on Tuesday . The company traded as low as $1.74 and last traded at $1.7550. 539,131 shares changed hands during trading, a decline of 54% from the average session volume of 1,178,846 shares. The stock had previously closed at $1.80.

Wall Street Analyst Weigh In

ZVIA has been the topic of several research reports. Zacks Research downgraded shares of Zevia PBC from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zevia PBC in a research note on Wednesday, October 8th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $6.00 price objective on shares of Zevia PBC in a research report on Thursday, November 6th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $4.90.

Zevia PBC Stock Down 2.5%

The company’s fifty day moving average price is $2.44 and its 200 day moving average price is $2.64. The company has a market capitalization of $131.63 million, a P/E ratio of -7.98 and a beta of 0.87.

Zevia PBC (NYSE:ZVIA) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $40.84 million for the quarter, compared to the consensus estimate of $39.33 million. Zevia PBC had a negative return on equity of 30.61% and a negative net margin of 8.83%. Research analysts predict that Zevia PBC will post -0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zevia PBC

Institutional investors and hedge funds have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey bought a new position in Zevia PBC in the 2nd quarter valued at about $25,000. SG Americas Securities LLC bought a new position in Zevia PBC in the fourth quarter valued at approximately $31,000. R Squared Ltd bought a new position in Zevia PBC in the third quarter valued at approximately $36,000. DKM Wealth Management Inc. acquired a new position in Zevia PBC during the second quarter valued at approximately $42,000. Finally, Tocqueville Asset Management L.P. bought a new stake in Zevia PBC during the third quarter worth $44,000. Institutional investors own 53.21% of the company’s stock.

About Zevia PBC

Zevia PBC, headquartered in Los Angeles, is a Public Benefit Corporation that produces zero-calorie, naturally sweetened beverages. Founded in 2007, the company went public through a merger with a special purpose acquisition company in March 2021. Zevia’s mission centers on offering healthier drink alternatives by using stevia leaf extract and other plant-based ingredients rather than sugar or artificial sweeteners.

The company’s product portfolio spans multiple categories, including carbonated sodas, sparkling water, energy drinks, mixers and flavored teas.