Zevia PBC (NYSE:ZVIA) Receives Average Recommendation of “Hold” from Brokerages

Zevia PBC (NYSE:ZVIA) has been given a consensus recommendation of “Hold” by the six brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $4.4250.

A number of brokerages recently issued reports on ZVIA. Telsey Advisory Group dropped their target price on Zevia PBC from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Craig Hallum started coverage on Zevia PBC in a research note on Thursday, January 15th. They issued a “buy” rating and a $4.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Zevia PBC in a research report on Wednesday, January 21st.

Zevia PBC Price Performance

Shares of ZVIA stock opened at $1.39 on Friday. Zevia PBC has a one year low of $1.11 and a one year high of $3.66. The stock has a market cap of $103.88 million, a PE ratio of -9.23 and a beta of 0.90. The stock has a 50-day moving average of $1.77 and a 200-day moving average of $2.27.

Zevia PBC (NYSE:ZVIA) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01. The company had revenue of $37.87 million during the quarter, compared to analyst estimates of $39.96 million. Zevia PBC had a negative net margin of 6.15% and a negative return on equity of 22.49%. As a group, research analysts anticipate that Zevia PBC will post -0.32 earnings per share for the current year.

Insider Transactions at Zevia PBC

In other news, major shareholder De Depot Et Placement D. Caisse sold 3,500,000 shares of Zevia PBC stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $2.00, for a total transaction of $7,000,000.00. Following the completion of the transaction, the insider directly owned 13,550,428 shares in the company, valued at approximately $27,100,856. The trade was a 20.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zevia PBC

A number of large investors have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in shares of Zevia PBC by 2,845.4% during the 4th quarter. Bank of America Corp DE now owns 15,817 shares of the company’s stock valued at $66,000 after acquiring an additional 15,280 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Zevia PBC by 52.7% during the 1st quarter. Cubist Systematic Strategies LLC now owns 79,275 shares of the company’s stock valued at $171,000 after acquiring an additional 27,343 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Zevia PBC in the 1st quarter valued at about $187,000. Bank of Montreal Can acquired a new position in shares of Zevia PBC during the second quarter worth approximately $943,000. Finally, Acadian Asset Management LLC increased its position in shares of Zevia PBC by 7.1% during the second quarter. Acadian Asset Management LLC now owns 650,621 shares of the company’s stock worth $2,093,000 after acquiring an additional 43,318 shares in the last quarter. Institutional investors and hedge funds own 53.21% of the company’s stock.

Zevia PBC Company Profile

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.