Zevia PBC (NYSE:ZVIA) Given Average Rating of “Hold” by Brokerages

Shares of Zevia PBC (NYSE:ZVIA) have earned an average recommendation of “Hold” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $4.4250.

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

Zevia PBC Trading Down 0.4%

ZVIA opened at $1.17 on Thursday. The stock’s 50-day moving average price is $1.51 and its 200 day moving average price is $2.08. Zevia PBC has a 12-month low of $1.11 and a 12-month high of $3.66. The firm has a market cap of $87.49 million, a price-to-earnings ratio of -7.77 and a beta of 0.93.

Zevia PBC (NYSE:ZVIA) last released its earnings results on Wednesday, February 25th. The company reported ($0.02) earnings per share 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 the consensus estimate of $39.96 million. Zevia PBC had a negative return on equity of 22.49% and a negative net margin of 6.15%. On average, research analysts forecast that Zevia PBC will post -0.32 earnings per share for the current year.

Insider Buying and Selling at Zevia PBC

In related news, major shareholder De Depot Et Placement D. Caisse sold 3,500,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $27,100,856. The trade was a 20.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Girish Satya sold 41,662 shares of the company’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $1.18, for a total value of $49,161.16. Following the sale, the chief financial officer owned 327,909 shares in the company, valued at approximately $386,932.62. This trade represents a 11.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 11.11% of the company’s stock.

Institutional Trading of Zevia PBC

A number of large investors have recently made changes to their positions in ZVIA. Bank of America Corp DE raised its holdings in Zevia PBC by 2,845.4% in the fourth 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 grew its holdings in Zevia PBC by 52.7% during the 1st quarter. Cubist Systematic Strategies LLC now owns 79,275 shares of the company’s stock worth $171,000 after acquiring an additional 27,343 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Zevia PBC in the 1st quarter valued at approximately $187,000. Geode Capital Management LLC increased its position in shares of Zevia PBC by 66.5% in the 2nd quarter. Geode Capital Management LLC now owns 933,407 shares of the company’s stock valued at $3,006,000 after purchasing an additional 372,665 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Zevia PBC in the 2nd quarter valued at $51,000. 53.21% of the stock is currently owned by hedge funds and other institutional investors.

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.